Operating Expenses Escalation Sample Clauses

The Operating Expenses Escalation 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 proportionate share of rising expenses—such as utilities, maintenance, or property taxes—to the tenant, often based on increases above a specified base year or amount. By outlining the method for calculating and allocating these additional costs, the clause ensures that landlords are not solely responsible for inflation-driven expense increases, while tenants are made aware of their potential financial obligations beyond base rent.
Operating Expenses Escalation. Tenant hereby covenants and agrees that for each Lease Year in which Operating Expenses shall exceed the Operating Expenses for the Base Year, Tenant shall pay to Landlord as additional rent Tenant’s Percentage of such excess Operating Expenses. For the purposes of the provisions of this Rider:
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Operating Expenses Escalation. 6.1. Following the end of each Comparison Year, Tenant shall pay to Landlord, Additional Rent, within thirty (30) days after receipt of a statement of the amount thereof, Tenant's pro rata share, as specified in Paragraph 3.7, of the amount of the increase, if any, of the Operating Expenses, including Real Estate Taxes for the Comparison Year over the Base Year. If the system of real estate taxation shall be altered or varied and any new tax or levy shall be levied or imposed on said land, Building and improvements, and/or Landlord, in substitution for real estate taxes presently levied or imposed on immovables in the jurisdiction where the Building is located, then any such new tax or levy shall be included within the term "Real Estate Taxes." 6.2. For purposes of this Article: (a) The term "Operating Expenses" shall mean any and all expenses incurred by Landlord in connection with the operation, maintenance and repair of the Building including, but not limited to the following: Real Estate Taxes, as defined below, and impositions, general and special, of whatever kind or description levied against the Building, electricity, fuel, water, sewer, gas, oil and other utility charges (except to the extent separately submetered pursuant to Paragraph 8.2 below); security; pest control; cleaning of windows and exterior curtain walls; janitorial services; trash and snow removal; landscaping and repair and maintenance of grounds; salaries, wages, and benefits for employees of Landlord engaged in the operation, maintenance or repair of the Building, including benefits, payroll taxes and worker's compensation insurance; license fees, casualty and liability insurance; building or cleaning supplies; uniforms and dry cleaning service; supplies, repairs, replacements and other expenses for maintaining and operating the Building; the cost, including interest, amortized over its useful life or payback period of any capital improvement made to the Building which is required under any governmental law or regulation that was not applicable to the Building at the time it was constructed or of installation of any device or other equipment which improves the operating efficiency of any system within the Building and thereby reduces operating expenses; service or management contracts with independent contractors, general overhead; administrative expenses; management fees; telephone, telegraph and stationery. (b) The term "Base Year" shall mean the calendar year 1998.
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Operating Expenses Escalation. “Operating Expenses” means all costs, expenses, and disbursements of every kind, nature or description (including, but not limited to, a fee for management of the Property) and shall include all costs, expenses and fees incurred by Landlord in connection with or attributable to the operation and management of the Property, including, but not limited to the following items:
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Operating Expenses Escalation. In order to adjust, during the term of this lease, for increases in the expenses of the Landlord in operating the building, the Tenant shall pay to Landlord, as additional rent, commencing on (i) December 1, 1995 with respect to the Initial Premises and (ii) December 1, 1998 with respect to the Additional Fourth Floor Premises, and in each year thereafter, the amount stated opposite the appropriate year in Exhibit F, attached hereto and made a part hereof (the "Operating Expense Payment"), all in accordance with paragraphs (c) through (g) below.
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Operating Expenses Escalation. Tenant shall pay to Landlord, as additional rent, operating expense escalation in accordance with this paragraph B: (i) Definitions: For the purpose of this paragraph, the following definitions shall apply:
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Operating Expenses Escalation. Pursuant to Section 7(b)(iv) of the Lease, the Cap permits Landlord to recover in calendar year 2002 an Operating Expenses Escalation of only $.88 per rentable square foot, which is equal to a total of $44,550.00 or $3,712.50 per month, calculated by multiplying $.88 times 50,625 rentable square feet, and dividing the product by 12, as follows: $.88 x 50,625/12 = $3,712.50 Inasmuch as the estimated Operating Expenses Escalation, without reference to the Cap, for calendar year 2002 is equal to a total of $3,712.50 per month, the monthly amount payable by Tenant during calendar year 2002, commencing on the Expansion Date, shall be the Cap amount or $3,712.50 per month. (Tenant shall be separately invoiced by Landlord for the Operating Expenses Escalation deficit (the difference between what was actually paid by Tenant and what was actually due) for the period from January 1, 2002 up to the Expansion Date.)
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Operating Expenses Escalation 
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Related to Operating Expenses Escalation

  • 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.

  • 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:

  • 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.

  • 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.