Operating Costs Statement definition

Operating Costs Statement setting forth the actual Tenant's Share of Increased Operating Costs for such Operating Year. Within thirty (30) days after delivery of the Operating Costs Statement, Tenant shall pay Landlord any deficiency between the amount shown as Tenant's Share of Increased Operating Costs in the Operating Costs Statement and the total of the estimated payments made by Tenant during the Operating Year. In the event of overpayment, such amount shall be credited against future payments required on account of Tenant's Share of Increased Operating Costs, or if the Term has expired, Landlord shall refund to Tenant the amount of any overpayment. Each Operating Costs Statement provided by Landlord shall be conclusive and binding upon Tenant unless within thirty (30) days after receipt thereof, Tenant notifies Landlord that it disputes the correctness thereof, specifying those respects in which it claims the Operating Costs Statement to be incorrect. Unless resolved by the parties, such dispute shall be determined by arbitration in accordance with the then prevailing rules of the American Arbitration Association. If the arbitration proceedings result in a determination that the Operating Costs Statement contained an aggregate discrepancy of less than five percent (5%), Tenant shall bear all costs in connection with such arbitration. Pending determination of the dispute, Tenant shall pay any amounts due from Tenant in accordance with the Operating Costs Statement, but such payment shall be without prejudice to Tenant's claims Tenant, for a period of thirty (30) days after delivery of the Operating Costs Statement in each Operating Year and upon at least ten (10) days written notice to Landlord, shall have reasonable access during normal business hours to the books and records of Landlord relating to Operating Costs for the purpose of verifying the Operating Costs Statement, Tenant to bear all costs relating to such inspection. Tenant shall reimburse Landlord for any cost for photocopying that it desires. Notwithstanding the foregoing, upon Tenant's written request, Landlord will provide Tenant with a detailed breakdown of expense accounts for Tenant's review and Tenant shall have one (1) year after receipt of the Operating Cost Statement to notify Landlord in writing of its intention to dispute the correctness of the Operating Cost Statement;
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Operating Costs Statement means a written statement provided by Landlord to Tenant each year during the Term hereof commencing April 1, 2008, setting forth the Operating Costs for the previous calendar year, as adjusted in the manner set forth herein.
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Operating Costs Statement is defined in Section 10.1 of the Partnership Agreement.
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Examples of Operating Costs Statement in a sentence

  • Tenant shall exercise such right by giving Landlord written notice (the “Documentation Request”) no more than one hundred eighty (180) days after Landlord gives Tenant an Operating Costs Statement in respect of such period (the “Documentation Request Due Date”).

  • In the event the amount of Tenant's Pro Rata Share of Operating Costs exceeds the sum of the monthly installments actually paid by Tenant for such calendar year, Tenant shall pay to Landlord the difference within thirty (30) days following receipt of the Operating Costs Statement.

  • By April 1 of each calendar year, or as soon after that date as practicable, Landlord will furnish to Tenant a statement of Operating Costs paid for the previous year, adjusted as provided in Section 3.2(f) below (the "Operating Costs Statement").

  • Notwithstanding anything to the contrary herein contained, Tenant shall only have the right to examine the documentation and calculations relative to Operating Costs in the Base Year for a period of one hundred eighty (180) days after Landlord gives Tenant the Operating Costs Statement with respect to the first or second Operating Year after the Base Year (but Tenant shall have the right to exercise Operating Costs in the Base Year only once).

  • If the Operating Costs Statement and/or the Tax Statement reveal(s) that Tenant paid more in Operating Costs Adjustment or Tax Adjustment than the actual amount for the year for which such statement was prepared, then Landlord will promptly credit Tenant for such excess.

  • This Agreement creates a valid and binding security interest in favor of the Collateral Agent for the benefit of the Secured Parties in the Collateral, which security interest secures all of the Secured Obligations.

  • If the arbitration proceedings result in a determination that the Operating Costs Statement contained an aggregate discrepancy of less than five percent (5%), Tenant shall bear all costs in connection with such arbitration.

  • Tenant shall have no right to examine all documentation and calculations pursuant to this Section 9.7 unless T▇▇▇▇▇ has paid the amount shown on the Operating Costs Statement.

  • Welding gloves, welding jackets, boot protection, spat leggings and eye protection for employees engaged in welding.

  • Counties in the eight provinces were initially stratified by income (low, middle, and high) and a weighted sampling scheme was used to randomly select four counties in each province.


More Definitions of Operating Costs Statement

Operating Costs Statement. (as that term is defined in the Prime Lease) that is received by Sublandlord for each and every "Operating Year" (as that term is defined in the Prime Lease) during the Term; and (ii) notice of all estimates of "Operating Costs" that are given by Prime Landlord to Sublandlord under section 7.2 of the Prime Lease as the basis for determining from time to time the amount of the monthly installments of "Tenant's Share of Operating Costs" that are payable by Sublandlord under the Prime Lease.
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Operating Costs Statement setting forth the actual Tenant's Share of Operating Costs for such Operating Year. Within thirty (30) days after delivery of the Operating Costs Statement, Tenant shall pay Landlord any deficiency between the amount shown as Tenant's Share of Operating Costs in the Operating Costs Statement and the total of the estimated payments made by Tenant during the Operating Year. In the event of overpayment, such amount shall be credited against future payments required on account of Tenant's Share of Operating Costs, or if the Term has expired, Landlord shall refund to Tenant the amount of any overpayment within thirty (30) days. Each Operating Costs Statement provided by Landlord shall be conclusive and binding upon Tenant unless within nine (9) months after receipt thereof, Tenant notifies Landlord that it disputes the correctness thereof, specifying those respects in which it claims the Operating Costs Statement to be incorrect. Unless resolved by the parties, such dispute shall be determined by arbitration in accordance with the then prevailing rules of the American Arbitration Association. If the arbitration proceedings
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Operating Costs Statement has the meaning given it in subsection 4.3.2.
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Related to Operating Costs Statement

  • Operating Costs means the incremental operating expenses incurred on account of the Project implementation, management and monitoring including rent for buildings; office, vehicles, office equipment and other operation and maintenance costs; water and electricity utilities, telephone, office supplies, bank charges, additional staff costs, travel and supervision costs, per diem, but excluding the salaries of officials and public servants of the Project Implementing Entity or the Recipient’s civil service.

  • Operating Expenses is defined to include all expenses necessary or appropriate for the operation of the Fund (or Class, as applicable), including the Advisor’s investment advisory or management fee detailed in the Investment Advisory Agreement and any Rule 12b-1 fees and other expenses described in the Investment Advisory Agreement, but does not include taxes, leverage interest, brokerage commissions, dividend and interest expenses on short sales, acquired fund fees and expenses (as determined in accordance with SEC Form N-1A), expenses incurred in connection with any merger or reorganization, or extraordinary expenses such as litigation expenses.

  • Approved Operating Expenses means for each Budget Year during the Term the following operating expenses reasonably and actually incurred from the operation and maintenance of Property to the extent that such operating expenses are consistent with the Annual Budget and the Annual Audited Financial Statements:

  • Operating Expense means salaries, wages, cost of maintenance and operation, materials, supplies, insurance, and all other items normally included under recognized accounting practices, but does not include allowances for depreciation in the value of physical property.

  • Project Expenses means usual and customary operating and financial costs. The term does not include extraordinary capital expenses, development fees and other non-operating expenses.