Operating Expense Base Amount definition

Operating Expense Base Amount means the operating expenses of the Building, as defined at Item 4 hereof, in the Base Year of this Lease.
View Source
Operating Expense Base Amount shall equal $ See Rider;
View Source
Operating Expense Base Amount means $4.83 per rentable square foot per annum. Landlord may collect such amount in a lump sum, which shall be due within 30 days after Landlord furnishes to Tenant the Operating Costs and Tax Statement (defined below). Alternatively, Landlord may make a good faith estimate of the Additional Rent to be due by Tenant for any calendar year or part thereof during the Term, and Tenant shall pay to Landlord, on the Commencement Date and on the first day of each calendar month thereafter, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord may estimate and re-estimate the Additional Rent to be due by Tenant and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Additional Rent payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Additional Rent as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment as herein provided when actual Operating Costs are available for each calendar year.
View Source

Examples of Operating Expense Base Amount in a sentence

  • As Additional Rent, Tenant shall pay Tenant’s Share (specified in Section G of the Summary) of the amount (if any) by which Operating Expenses paid or incurred in any calendar year during the Lease Term exceeds the Operating Expense Base Amount identified in Section P of the Summary (which excess is referred to herein as the “Excess Expenses”) for any annual period or portion hereof.

  • Commencing January 1, 2014, Tenant will pay as "additional rent" for Suite 700, Tenant's Proportionate Share of the increases, in Operating Expenses and Taxes, per rentable square foot of Suite 700, in excess of the Suite 700 Operating Expense Base Amount and Suite 700 Tax Base Amount, respectively.

  • Landlord, at its sole cost and expense as a capital item and not to be included in the Operating Expense Base Amount, shall make upgrades to the Building pursuant generally to the plans titled “Granite Tower Design Package” dated October 29, 2018, by DLR Group, a copy of which is attached hereto as Exhibit D.

  • Tenant’s proportionate share of the amount determined by Landlord and payable by Tenant as the estimated increase in Operating Expenses for the ensuing calendar year over the Operating Expense Base Amount, which amount is payable in twelve (12) equal monthly installments.

  • As Additional Rent, Tenant shall pay Tenant’s share (specified in Section G of the Summary) of the amount (if any) by which Common Operating Expenses paid or incurred in any Landlord’s fiscal year during the Lease Term exceeds the Common Operating Expense Base Amount defined in Section O of the Summary (which excess is referred to herein as the “Excess Expenses”) for any annual period or portion thereof.

  • Commencing January 1, 2012, Tenant will pay as "additional rent'' for Suite 1900 and Suite 2000, Tenant's Proportionate Share of the increases, in Operating Expenses and Taxes, per rentable square foot of Suite 1900 and Suite 2000, in excess of the Suite 1900 Operating Expense Base Amount, Suite 1900 Tax Base Amount, Suite 2000 Operating Expense Base Amount and Suite 2000 Tax Base Amount, respectively.

  • As Additional Rent, Tenant shall pay Tenant's Share (specified in Section G of the Summary) of the amount (if any) by which Common Operating Expenses paid or incurred in any calendar year during the Lease Term exceeds the Common Operating Expense Base Amount identified in Section P of the Summary (which excess is referred to herein as the "Excess Expense") for any annual period or portion hereof.

  • As Additional Rent, Tenant shall pay Tenant’s Share (specified in Section G of the Summary) of the amount (if any) by which Common Operating Expenses paid or incurred in any calendar year during the Lease Term exceeds the Common Operating Expense Base Amount identified in Section P of the Summary (which excess is referred to herein as the “Excess Expenses”) for any annual period or portion hereof.

  • As of January 1, 2014, the "Suite 500 Operating Expense Base Amount", "Suite 500 Tax Base Amount", for Suite 500 only will be the dollar amounts of Operating Expenses and Taxes, respectively, per rentable square foot calculated by Landlord for the calendar year 2014, as they may be adjusted pursuant to subparagraph 4(a)(vii)(A) of the Original Lease.

  • Upon any such partial taking, Landlord shall have the right to reduce the Operating Expense Base Amount by an amount equal to the product of (x) the amount of property tax savings to Landlord arising from such partial taking, as determined by Landlord in its sole but reasonable discretion, divided by the number of square feet of Rentable Office Floor Area of the Building, multiplied by (y) the number of square feet of Rentable Floor Area of the Premises.


More Definitions of Operating Expense Base Amount

Operating Expense Base Amount means the amount, on a per rentable square foot per annum basis, incurred by Landlord during the Calendar Year 2003 for Operating Expenses, as may be adjusted under the provisions of subparagraph 4(a)(vii).
View Source
Operating Expense Base Amount shall be the amount derived by multiplying the amount of Two and 00/100 ($2.00) Dollars by the amount of the rentable square feet of space in the Leased Premises from time to time. Based upon 38,270 rentable square feet of space, the Operating Expense Base Amount would be $76,540. In the event the Landlord elects at any time to ▇▇▇▇ separately for the Operating Expenses allocable to the Parking Area (or the larger parking lot parcel(s) as aforesaid) pursuant to Section 6.03 (a), the Operating Expense Base Amount shall be reasonably allocated by the Landlord between the Land and Building on the one hand, and the Parking Area and other applicable parking parcel(s) on the other.
View Source
Operating Expense Base Amount means $5.60 per rentable square foot per annum.
View Source
Operating Expense Base Amount means $4.99 per rentable square foot per annum.
View Source

Related to Operating Expense Base Amount

  • 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.

  • 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.

  • Gross Operating Expenses shall include (i) all costs and expenses of operating the Hotel included within the meaning of the term “Total Costs and Expenses” contained in the Uniform System and, (ii) without duplication, the following: all salaries and employee expense and payroll taxes (including salaries, wages, bonuses and other compensation of all employees of the Hotel, and benefits including life, medical and disability insurance and retirement benefits), expenditures described in Section 9.1, operational supplies, utilities, insurance to be provided by Lessee under the terms of this Lease, governmental fees and assessments, common area maintenance costs and other common area fees and assessments, food, beverages, laundry service expense, the cost of Inventories, license fees, advertising, marketing, reservation systems and any and all other operating expenses as are reasonably necessary for the proper and efficient operation of the Hotel and the Leased Property incurred by Lessee in accordance with the provisions hereof (excluding, however, (i) federal, state and municipal excise, sales and use taxes collected directly from patrons and guests or as a part of the sales price of any goods, services or displays, such as gross receipts, admissions, cabaret or similar or equivalent taxes paid over to federal, state or municipal governments, (ii) the cost of insurance to be provided under Article 13, (iii) expenditures by Lessor pursuant to Article 13 and (iv) payments on any Mortgage or other mortgage or security instrument on the Hotel); all determined in accordance with generally accepted accounting principles. No part of Lessee’s central office overhead or general or administrative expense (as opposed to that of the Hotel), and no operating expenses paid or payable by tenants under Space Leases, shall be deemed to be a part of Gross Operating Expenses, as herein provided. Reasonable out-of-pocket expenses of Lessee incurred for the account of or in connection with the Hotel operations, including but not limited to postage, telephone charges and reasonable travel expenses of employees, officers and other representatives and consultants of Lessee and its Affiliates, shall be deemed to be a part of Gross Operating Expenses and such Persons shall be afforded reasonable accommodations, food, beverages, laundry, valet and other such services by and at the Hotel without charge to such Persons or Lessee.

  • Total Operating Expenses means all costs and expenses paid or incurred by the Company, as determined under generally accepted accounting principles, that are in any way related to the operation of the Company or to Company business, including advisory fees, but excluding (i) the expenses of raising capital such as Organization and Offering Expenses, legal, audit, accounting, underwriting, brokerage, listing, registration, and other fees, printing and other such expenses and tax incurred in connection with the issuance, distribution, transfer, registration and Listing of the Shares, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees paid in compliance with the NASAA REIT Guidelines, (vi) Acquisition Fees and Acquisition Expenses, (vii) real estate commissions on the Sale of Properties, (viii) Financing Coordination Fees and (ix) other fees and expenses connected with the acquisition, disposition, management and ownership of real estate interests, mortgage loans or other property (including the costs of foreclosure, insurance premiums, legal services, maintenance, repair and improvement of property).

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇ Vice President The Royce Fund ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇ Re: Fee Waiver and Expense Reimbursement - ▇▇▇▇▇ ▇▇▇▇-Cap Value Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated September 18, 2007 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of ▇▇▇▇▇ ▇▇▇▇-Cap Value Fund (the “Series”) and Royce & Associates, LLC (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement effective as of and for the period beginning May 1, 2014 and ending April 30, 2015 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.35% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2021 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.