Building Operating Costs definition
Building Operating Costs means those Operating Costs which directly relate to, or are primarily for the benefit of, the Building, as reasonably determined by Landlord.
Building Operating Costs is defined in Section 5.2.
Building Operating Costs shall have the meaning set forth in Section 5.03(c),(d) and (e) of this Lease.
Examples of Building Operating Costs in a sentence
Includes all fees, charges (including parking charges), expenses, fines, assessments, interest or other sums payable by Tenant pursuant to this Lease other than (a) Tenant’s Project Share of (i) Project Taxes, (ii) Project Insurance Costs and (iii) Project Operating Costs, (b) Tenant’s Building Share of (i) Building Taxes, (ii) Building Insurance Costs and (iii) Building Operating Costs and (c) Tenant’s Utility Costs due under this Lease.
Annually, Landlord shall furnish to Tenant a report setting forth in reasonable detail the Project Operating Costs, Building Operating Costs, Project Insurance Costs, Building Insurance Costs, Project Taxes and Building Taxes for the immediately preceding calendar year (in the case of Operating Costs and Insurance Costs) or Tax Fiscal Year (in the case of Taxes).
Such grossed-up adjustments shall be made by Landlord by increasing those costs included in the Building Operating Costs and/or Common Area Operating Costs which, according to industry practice but depending on the specific situation of the Building or the Park Place Project, vary based upon the level of occupancy of the Building or the Park Place Project.
Building Operating Costs and Common Area Operating Costs relating to periods of the Term that fall partly within any Calendar Year shall be reasonably allocated between such Calendar Years.
In no event shall the adjustment entitled Lessee to receive the benefit of a reduction in Building Operating Costs below the level of the initial Base Year during the term hereof.
More Definitions of Building Operating Costs
Building Operating Costs includes:
Building Operating Costs means all expenses, costs, and amounts of every kind or nature that Landlord pays or incurs because of or in connection with the ownership, operation, management, maintenance, or repair of the Building (which includes the land and any parking areas located under the Building). Building Operating Costs include, without limitation, the following amounts paid or incurred relative to the Building (a) the cost of supplying utilities to all portions of the Building, including without limitation water, electricity, heating, ventilation, and air conditioning, (b) Tax Expenses relating to the Building, to the extent the Building is separately assessed by the taxing authority, (c) the cost of providing janitorial services for the Building and of operating, managing, maintaining, and repairing all building systems, including without limitation utility, mechanical, sanitary, storm drainage, and elevator systems, and the cost of supplies, tools, and equipment, as well as maintenance and service contracts in connection with those systems, (d) the cost of licenses, certificates, permits, and inspections relating to the operation of the Building, (e) the cost of contesting the validity or applicability of any government enactments that may affect the Building Operating Costs, (f) the cost of maintenance, repair, and restoration of any parking areas located under the Building (if any), including, without limitation, resurfacing, repainting, restriping, and cleaning costs, (g) fees, charges, and other costs, including administrative, management fees, and accounting costs (or amounts in lieu of such fees), whether paid to Landlord, an affiliate of Landlord’s, or a third party, consulting fees, legal fees, and accounting fees of all persons engaged by Landlord or otherwise reasonably incurred by Landlord in connection with the operation, management, maintenance, and repair of the Building, (h) wages, salaries, and other compensation and benefits of all persons engaged in the operation, maintenance, repair, or security of the Building plus employer’s Social Security taxes, unemployment taxes, insurance, and any other taxes imposed on Landlord that may be levied on those wages, salaries, and other compensation and benefits. If any of Landlord’s employees provide services for more than one project of Landlord, only the prorated portion of those employees’ wages, salaries, other compensation and benefits, and taxes reflecting the percentage of their working time devoted to the Bu...
Building Operating Costs for the Base Year and each subsequent Calendar Year means all costs and expenses of every kind and nature, incurred by Landlord for operating, maintaining, managing, cleaning, equipping, insuring, securing, repairing, replacing, restoring and making improvements to the Building Property, including, but in no way limited to, the following (which are for broad general illustration purposes only):
Building Operating Costs means the sum of the following: any and all costs, expenses and disbursements paid or incurred by landlord in connection with the management, operation, security, maintenance, and repair of the Project (as it may exist from time to time) including, but not limited to, salaries, wages, benefits and related costs for employees, management fees, either as charged to Landlord by outside management companies or an amount not exceeding the amount typically charged by outside management companies if Landlord manages the Building itself, together with the rental value of space occupied as the Project management office and any building operating costs (including, but not limited to, real property taxes, utilities, and insurance) attributed to such space occupied as the project management office; charges for utilities and services (including any taxes thereon); the cost of insurance; the cost of building cleaning supplies and materials; ground rent; and a reasonable allowance for depreciation (or amortization) with respect to machinery and equipment and other capital expenditures and improvements; provided, however, that the only depreciation (or amortization and expenditures) includable in Building Operating Costs shall be a reasonable allowance for depreciation (or amortization) on (a) items intended to result in cost savings, (b) common area interior floor and wall coverings and resurfacing and common area window treatments, and (c) Required Alterations (as defined below). If, during any calendar year subsequent to the year in which the Commencement Date occurred, the Building is less than ninety-five percent (95%) occupied, then for the purpose of computing Additional Rent due hereunder Building Operating Costs actually incurred during such calendar year shall be increased to reflect the amounts which would have been payable if the Building had been ninety five percent (95%) occupied. Without limiting the generality of the foregoing, and notwithstanding any contrary provision herein, if at any time Landlord is required by any rule, regulation or law, to make any changes, alterations or improvements to the common area or the Building, the Premises, or any other portion of the Project (including, but not limited to, electrical, mechanical, water sprinkler, or other systems or components) ("Required Alterations") (but excluding Required Alterations attributable exclusively to Tenant's specific use and occupancy of the Premises, which alterations shall be Tenant's s...
Building Operating Costs shall include each and every expense incurred in connection with the ownership, administration, management, operation, repair, replacement and maintenance of the Real Estate, including but not limited to, wages, salaries and fees paid to persons either employed by Landlord or engaged as independent contractors in the operation of the Real Estate, and such other typical items of expense as indicated below. All such costs and the values allocated to services rendered and supplies delivered shall be reflected on the comparative statement which shall be exhibited to the Tenant upon request.
Building Operating Costs shall include, without limitation, all expenses, costs, and disbursements of every kind and nature (and taxes thereon (excluding any income taxes) that Landlord shall pay or become obligated to pay during the Cost Year in question) in connection with (i) the repair, safety, management, ownership, operation, cleaning, equipping, protecting, lighting, painting, decorating, heating, air conditioning, ventilating, and maintenance of the Buildings, and (ii) with respect to Building 311, the costs of interior landscaping and elevator service, and the provision of any services to tenants and occupants of Building 311. Building Operating Costs include the cost of capital expenditures for the Buildings made (i) to maintain the Buildings or (ii) by reason of any Legal Requirement effective subsequent to the Lease Commencement Date or any Insurance Requirement, and the cost of capital expenditures made that are intended or expected to reduce or moderate the Building Operating Costs may be added into Building Operating Costs for the Cost Year in which incurred and in subsequent Cost Years, by amortization on a straight-line basis over the estimated useful life of such item as reasonably determined by Landlord in accordance with generally accepted accounting principles, consistently applied, in effect at the time the capital expenditure is incurred, with an interest factor equal to the Prime Rate plus two percentage points (2.00%) existing at the time of the expenditure. Notwithstanding the foregoing sentence, if Landlord reasonably concludes on the basis of engineering estimates that a particular capital expenditure will effect savings in Building Operating Costs including, without limitation, energy-related costs, and that such projected savings will, on an annual basis ("BUILDING PROJECTED ANNUAL SAVINGS"), exceed the amortization or depreciation of such capital expenditure computed as aforesaid, then and in such events, for the purposes of determining Building Operating Costs, the depreciation or amortization of such capital expenditure shall be accelerated to reflect an annual amount equal to the Building Projected Annual Savings; and in such circumstances, the increased depreciation or amortization (in the amount of the Building Projected Annual Savings) shall be made for such period of time as it would take to fully amortize the cost of the capital item in question, together with interest as aforesaid. A portion of Complex Operating Costs shall be included in Bu...
Building Operating Costs means all expenses, costs and disbursements (in excess of Tenant's Expense Stop defined in the Definition section of this Lease) which Landlord shall pay or become obligated to pay because of, or in connection with, the maintenance, repair and operation of the Building, including, but not limited to: real estate taxes and assessments, use sales, or any other taxes (except income taxes) based on rents, personal property taxes on personal property used in the operation of the Building; Landlord's insurance; maintenance; janitorial services for any common areas of the Building; operating supplies; property management; Building services; snow removal; landscaping; costs of rubbish removal for any common area of the Building; tools and equipment used for the daily operation of the Building; air conditioning, ventilation and heating; resurfacing and restriping of parking areas, repairs and replacement of signage; security; and wages, payroll taxes, and benefits reasonably incurred in the operation of the Building. Notwithstanding the foregoing, Building Costs shall not include monies spent for income tax, interest, depreciation, or expenditures of a capital nature (except to the extent that such expenditures are required due to a change in a law or are reasonably anticipated to cause a reduction in the cost of services, in such case, that part of the capital expense attributes to the lease year under good accounting practices shall be included in the Building Operation Costs.)