Tenant’s Proportionate Share of Operating Expenses Sample Clauses
The "Tenant's Proportionate Share of Operating Expenses" clause defines the portion of a property's operating costs that a tenant is responsible for paying, typically based on the ratio of the tenant's leased space to the total leasable area of the property. In practice, this means that if a tenant occupies 10% of a building, they would be charged 10% of the building's common area maintenance, utilities, and other shared expenses. This clause ensures that operating costs are fairly distributed among all tenants, preventing any single tenant from bearing an undue share and providing transparency in how expenses are allocated.
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Tenant’s Proportionate Share of Operating Expenses. Section 3.02C of the Lease is hereby deleted in its entirety and the following is substituted in lieu thereof:
Tenant’s Proportionate Share of Operating Expenses. Tenant shall pay to Landlord, as Additional Rent, the Proportionate Share of Operating Expenses.
Tenant’s Proportionate Share of Operating Expenses. The parties recognize that the Sublandlord will not render any services in connection with this Sublease and that pursuant to the Master Lease, the Sublandlord is required to pay Tenant’s Proportionate Share of Operating Expenses which is 52.06% required to be paid under the Master Lease. The parties hereby agree that in addition to the Base Rent, on the Commencement Date and on the first day of each month during the Term of this Lease (except for February, 2020 where such payment shall be prorated based on a 28 day month), the Subtenant shall pay to Sublandlord an amount equal to the Tenant’s Proportionate Share of Operating Expenses required to be paid by Sublandlord under the Master Lease. To the extent of any adjustments between Landlord and the Sublandlord with respect to the payment of Tenant’s Proportionate Share of Operating Expenses, the Subtenant shall be promptly responsible for any such increase or adjustment. Upon Sublandlord obtaining knowledge as to the amount of such Tenant’s Proportionate Share of Operating Expenses from time to time, the Sublandlord shall notify Subtenant of such amount and Subtenant shall pay such adjusted sums within thirty (30) days of such notice and thereafter until notified of further adjustments. The Tenant’s Proportionate Share of Operating Expenses presently in effect is presently estimated as $3.89 per square foot for 2018. In addition to such payment, the Subtenant shall be liable for paying all expenses to maintain and operate the Premises, including trash removal and utilities in connection with the Premises. To the extent permitted under the Master ▇▇▇▇▇, the Sublandlord agrees to cooperate with Subtenant to enable the Subtenant to have the right to audit the Tenant’s Proportionate Share of Operating Expenses permitted under the Master Lease.
Tenant’s Proportionate Share of Operating Expenses. Commencing July 1, 2016, Section 3.02.C. of the Lease is hereby deleted in its entirety and the following is substituted in lieu thereof: "Tenant's Proportionate Share of Operating Expenses": an amount equal to the product obtained by multiplying Tenant's Proportionate Share by the Operating Expenses for the applicable calendar year."
Tenant’s Proportionate Share of Operating Expenses. Six percent (6%) of the Operating Expenses allocable to the Building which is based upon the Premises containing 9,033 square feet of rentable area (on the Commencement Date) of the Building containing 150,961 square feet of rentable area (on the Commencement Date).
Tenant’s Proportionate Share of Operating Expenses. (a) Beginning as of January 1, 2001, Tenant shall pay Landlord as Additional Rent a sum equal to Tenant's Proportionate Share (as defined below) of the amount by which Operating Expenses (as defined below) exceed the Operating Expenses for the Operating Expense Base Year. If the first and/or last years of the Term shall not coincide with a calendar year, then Tenant's Proportionate Share of Operating
Tenant’s Proportionate Share of Operating Expenses i. For the period from the Effective Date through the Expansion Premises Commencement Date, Tenant’s Proportionate Share of Operating Expenses shall be as currently set forth in the Amended Lease.
ii. For the period from the Expansion Premises Commencement Date to July 31, 2019, Tenant’s Proportionate Share of Operating Expenses shall be as follows:
1. With respect to the Building- 45,427 RSF / 209,904 RSF or 21.64%.
2. With respect to the Office Complex- 45,427 RSF / 539,039 RSF or 8.43%.
iii. For the period from August 1, 2019 to the Term Expiration Date, Tenant’s Proportionate Share of Operating Expenses shall be as follows:
1. With respect to the Building- 46,726 RSF / 214,664 RSF or 21.77%.
2. With respect to the Office Complex- 46,726 RSF / 547,746 RSF or 8.53%.
3. Industry standard for measuring buildings is set by the Building Owners & Managers Association (BOMA). When the Original Lease was signed in May of 2015, the measurements used were from the original builder. New owners purchased the building in late 2015 and re-measured it according to the current BOMA standards, resulting in an increase of 1,299 RSF, which will become effective on August 1, 2019.
Tenant’s Proportionate Share of Operating Expenses. Beginning with the payment of Basic Rent due on the first day of the second Lease Year, Tenant shall pay to Landlord throughout the Term, as Additional Rent, Tenant's Proportionate Share of the amount by which the Operating Expenses during each Calendar Year of the Lease Term exceeds the Expense Stop. Landlord shall estimate and Tenant shall pay the amounts due as provide in Section 7.4. In the event that the Commencement Date or the Expiration Date are other than the first day of a Calendar Year then Tenant's Proportionate Share of the Operating Expenses for the first Calendar Year in which such payments are required shall be calculated nonetheless based upon the Expense Stop, subject only to reasonable adjustment as set forth in Section 7.2.
Tenant’s Proportionate Share of Operating Expenses. 52.1% of Operating Expenses (which percentage is based upon the Premises containing 104,883 net rentable square feet and the Building containing 201,148 net rentable square feet) (subject to adjustment pursuant to Section 1.1).
Tenant’s Proportionate Share of Operating Expenses shall be (a) an amount equal to the remainder of (i) the product of Tenant's Building Expense Percentage for Woodland V times the Operating Expenses for Woodland V less (ii) Landlord's Share of Operating Expenses for Woodland V, provided that such amount shall not be less than zero, plus (b) an amount equal to the remainder of (i) the product of Tenant's Building Expense Percentage for Woodland VI times the Operating Expenses for Woodland VI less (ii) Landlord's Share of Operating Expenses for Woodland VI, provided that such amount shall not be less than zero, plus (c) an amount equal to the remainder of (i) the product of Tenant's Building Expense Percentage for Woodland I times the Operating Expenses for Woodland I, less (ii) Landlord's Share of Operating Expenses for Woodland I, provided that such amount shall not be less than zero."