Operating Expense Payments Sample Clauses
The Operating Expense Payments clause defines the tenant's obligation to pay their share of the costs associated with operating and maintaining the property. Typically, this includes expenses such as utilities, property taxes, insurance, repairs, and common area maintenance, which are either billed directly to the tenant or allocated proportionally among all tenants. By clearly outlining what constitutes operating expenses and how payments are calculated and collected, this clause ensures that the landlord is reimbursed for ongoing property costs and that tenants understand their financial responsibilities, thereby preventing disputes over shared expenses.
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Operating Expense Payments. During each month of the Lease Term subsequent to the Base Year, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12 of the annual cost, as estimated by Landlord from time to time, of Tenant's Proportionate Share (hereinafter defined) of Excess Operating Expenses for the Project. Payments thereof for any fractional calendar month shall be prorated. The term "Excess Operating Expenses" means Operating Expenses for the applicable year in excess of Operating Expenses for the Base Year. The term "Operating Expenses" means all costs and expenses incurred by Landlord with respect to the ownership, maintenance, and operation of the Project including, but not limited to costs of: Taxes (hereinafter defined) and fees payable to tax consultants and attorneys for consultation and contesting taxes; insurance; utilities; maintenance, repair and replacement of all portions of the Project, including without limitation, paving and parking areas, roads, roofs, alleys, and driveways, mowing, landscaping, exterior painting, utility lines, heating, ventilation and air conditioning systems, lighting, electrical systems and other mechanical and building systems; amounts paid to contractors and subcontractors for work or services performed in connection with any of the foregoing; charges or assessments of any association to which the Project is subject; property management fees payable to a property manager, including any affiliate of Landlord, or if there is no property manager, an administration fee of 15 percent of the total amount of Operating Expenses; security services, if any; trash collection, sweeping and removal; and additions or alterations made by Landlord to the Project or the Building in order to comply with Legal Requirements (other than those expressly required herein to be made by Tenant) or that are appropriate to the continued operation of the Project or the Building as a bulk warehouse facility in the market area, provided that the cost of such additions or alterations that are required to be capitalized for federal income tax purposes shall be amortized on a straight line basis over a period equal to the lesser of the useful life thereof for federal income tax purposes or 10 years. Operating Expenses do not include costs, expenses, depreciation or amortization for capital repairs and capital replacements required to be made by Landlord under Paragraph 10 of this Lease, debt service under mortgages or ground rent under gr...
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.
Operating Expense Payments. During each month of the Lease Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12 of the annual cost, as estimated by Landlord from time to time, of Tenant’s Proportionate Share (hereinafter defined) of Operating Expenses for the Property and Building. Payments thereof for any fractional calendar month shall be prorated.
Operating Expense Payments. Landlord shall deliver to Tenant a written good faith estimate of Operating Expenses for each calendar year during the Term on or before the date that is 30 days prior to the first day of each calendar year (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. Commencing on the Commencement Date and continuing thereafter on the first day of each month during the Term, 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.
Operating Expense Payments. (i) If the Expense Factor for any Computation Year exceeds the Base Expense Factor, Tenant shall pay to Landlord, as Additional Rent during each Computation Year, an amount (“Tenant’s Operating Payment”) equal to (A) Tenant’s Retail Space Area, multiplied by (B) the amount by which the Expense Factor for such Computation Year exceeds the Base Expense Factor. For each Computation Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s good faith estimate of Tenant’s Operating Payment for such Computation Year. Tenant shall pay to Landlord, on the first day of each month during such Computation Year, an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Computation Year. If Landlord does not furnish any such estimate for a Computation Year until after the commencement thereof, then (1) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this subsection (g) during the last month of the preceding Computation Year, (2) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Computation Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Computation Year in accordance with such estimate, and (X) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 Business Days after demand therefor or (Y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent installments of Rent due hereunder, and (3) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Computation Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate.
(ii) Landlord shall furnish to Tenant a Landlord’s Statement of Operating Expenses for each Computation Year. If such Landlord’s Statement shows that the sums paid by Tenant under subsection (g) exceeded the actual amount of Tenant’s Operating Payment for such Computation Year, Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder. If Landlo...
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. Commencing on (i) with respect to the First Floor Premises, the earlier to occur of the First Floor Delivery Date or the date that Landlord could have Delivered the First Floor Premises to Tenant but for Tenant Delays occurring after the date of the First Amendment, and (ii) with respect to the Second Floor Premises, the earlier to occur of the Second Floor Delivery Date or the date that Landlord could have Delivered the Second Floor Premises to Tenant but for Tenant Delays occurring after the date of the First Amendment, and continuing thereafter on the first day of each month during the Term, 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. Notwithstanding anything to the contrary contained in this Lease, for the period commencing on the First Floor Delivery Date through the Second Floor Delivery Date, Tenant shall only be required to pay Operating Expenses with respect to the First Floor Premises (and during such period Tenant’s Share of Operating Expenses of the Building shall be 49.53% and Tenant’s Share of Operating Expenses of Project shall be 18.81%). Tenant shall commence paying Operating Expenses with respect to the Second Floor Premises on the Second Floor Delivery Date; provided, however, that for the period commencing on the Second
Operating Expense Payments. Landlord shall deliver to Tenant a written good faith estimate of Operating Expenses for each calendar year during the Term on or before the date that is thirty (30) days prior to the first day of each calendar year (the “Annual Estimate”). Together with the Annual Estimate, Landlord shall deliver Landlord’s good faith estimate of the 50-60 Garage Operating Expenses (as such term is defined below) for each such calendar year (the “50-60 Garage Annual Estimate”). The Annual Estimate and 50-60 Garage Annual Estimate 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 Operating Expenses as set forth in the Annual Estimate and 1/12,h of Tenant’s Share of the 50-60 Garage Annual Estimate. Payments for any fractional calendar month shall be prorated.
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 upon not less than 30 days’ written notice to Tenant; provided, however that Landlord shall not revise the Annual Estimate more than twice in any calendar year. Commencing on the Rent Commencement Date and continuing thereafter on the first day of each month during the Term, 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.
Operating Expense Payments. Landlord shall deliver to Tenant, which Landlord shall endeavor to do at least 30 days prior to the beginning of each calendar year of the Term following the Commencement Date, 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 (but no more than quarterly). Commencing on the Commencement Date, and continuing thereafter on the first day of each month during the Term, 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.
Operating Expense Payments. (a) It is the intention of Landlord and Tenant that Landlord receive the Base Rent “net” of all other charges except as expressly provided herein. Accordingly, beginning on the Commencement Date, Tenant shall pay as additional rent Tenant's Share (defined below) of the Operating Expenses and relating to the Premises, the Building, and the Project. As used in this Lease, the term “Rent” shall mean, collectively, Base Rent and additional rent. The term “Operating Expenses” shall mean all costs and expenses incurred by Landlord with respect to the ownership, maintenance, repair and operation of the Common Area and Project, including but not limited to: Taxes (as provided in this Lease); Insurance (as provided in this Lease); utilities; maintenance, repair and replacement of all portions of the Project (including the buildings and Common Areas), including without limitation, signs, sprinklers and fire suppression systems (if any), mechanical systems, including any HVAC or EVAP systems and their components, plumbing systems, exterior surfaces (including but not limited to painting, cleaning and graffiti removal), paving and parking areas (including striping, line painting and snow removal), dock systems, dock doors, roads, roofs, and roof systems, alleys, landscaping (including sprinkler systems), utility lines, lighting, electrical systems, Building Systems (defined below); trash collection, sweeping; compliance with laws, rules, regulations and orders of governmental authorities, including any Legal Requirements; fees and assessments; amounts paid to contractors and subcontractors for work or services performed in connection with the foregoing; property management fees (which, at Landlord’s option, may be payable to itself, an affiliate or third party manager); and administrative fees equal to fifteen percent (15%) of the Operating Expenses (excluding Taxes and Insurance) (which, at Landlord’s option, may be payable to itself, an affiliate or third party manager); deductibles on insurance loss; security services (if any). Notwithstanding the foregoing, Landlord agrees that all Operating Expenses must be reasonable and customary for the operation and maintenance of the Property and Project.