As used herein, the term “Operating Expenses” shall include:
Commencing on the Expansion Premises Commencement Date, the defined terms Tenants Share of Operating Expenses of Building and Tenants Share of Operating Expenses of Project on page 1 of the Lease is deleted in its entirety and replaced with the following:
Operating Expenses. During the Term of this Lease Agreement and any renewals or extensions thereof, [[Organization B:Organization]] shall pay its pro rata share of the Operating Expenses incurred by [[Organization A:Organization]] in the operation, maintenance and repair of the Building, the Parking Areas and other common areas of the Building, and the parcel(s) of land on which they are located. The term “Operating Expenses” herein shall include, but not be limited to, all payments by [[Organization A:Organization]] for maintenance, operation, repair, replacement and care of all heating, lighting, fire protection and plumbing fixtures in or serving the Parking Areas and other common areas of the Building and of all equipment, systems, exterior glass, landscaped areas, signs, Building exteriors (non-structural) and parking lots (including seal coating); all payments by [[Organization A:Organization]] for electricity, water, sewer and other utilities not separately metered or sub metered and specially billed to and payable by an individual [[Organization B:Organization]], snow removal, refuse removal, insurance premiums and deductibles, commercially reasonable management fees, wages and fringe benefits or personnel employed for the aforesaid work and proportionate costs of equipment purchased and used for such purposes; and the amortization of capital expenditures or investments that are made to reduce operating costs, or that are necessary due to governmental requirements first enacted after the date of this Lease, all as determined on a commercially reasonable basis by [[Organization A:Organization]]. The term “Operating Expenses” shall not be deemed to include any of the following: # leasing costs and commissions, costs of [[Organization B:Organization]] disputes, leasehold improvements and other costs of preparing space for tenants, other [[Organization B:Organization]] incentives, and expenses incurred in negotiating or enforcing leases; # interest, principal or any other payments made to the mortgagee under any mortgage or rental or any other payments made to the ground lessor under any ground lease, # the cost of any items of a capital nature, except as expressly provided above, # charges charged to [[Organization B:Organization]] under any
Operating Expenses. In addition to the Base Rent required to be paid hereunder, Tenant shall pay as Additional Rent, Tenants Proportionate Share of the Building and/or Project (as applicable), as defined in the Basic Lease Information, of Operating Expenses in the manner set forth below. Landlord and Tenant acknowledge that if the number of buildings which constitute the Project increases or decreases, or if physical changes are made to the Premises, Building and/or Project or the configuration of any thereof, Landlord may at its discretion adjust Tenants Proportionate Share of the Building and/or Project to reflect the change. Landlords determination of Tenants Proportionate Share of the Building and/or Project shall be conclusive absent manifest error. Operating Expenses shall mean all expenses and costs of every kind and nature which Landlord shall pay or become obligated to pay, because of or in connection with the ownership, management, maintenance, repair, preservation, replacement and operation of the Building and/or Project and its supporting facilities and such additional facilities now and in subsequent years as may be determined by Landlord to be necessary or desirable to the Building and/or Project other than those expenses and costs which are specifically attributable to Tenant or which are expressly made the financial responsibility of Landlord pursuant to this Lease. Operating Expenses shall also include, but are not limited to, the following:
Operating Expenses Exclusions. Operating Expenses shall not include # depreciation on the Building; # debt service, rental under any ground or underlying lease, or interest, principal, points and fees on any mortgage or other debt instrument encumbering the Building (except that, as provided in Paragraph 7.1 above, Landlord may include interest in the amortization of certain capital expenditures); # [[Organization B:Organization]] expenses incurred in negotiating leases, collecting rents, evicting tenants or costs incurred in [[Organization B:Organization]] proceedings with or against any tenant or to enforce the provisions of any lease, # the cost of decorating, improving for tenant occupancy, painting or redecorating portions of the Building to be demised to tenants; # advertising expenses relating to vacant space; # real estate brokers or other leasing commissions; # costs for which Landlord is reimbursed by insurance or condemnation proceeds, other tenants or any other source, and Landlord shall use commercially reasonable efforts to pursue claims under existing warranties and/or guaranties or against other responsible third parties to pay such costs; provided, that, the cost of pursuing such claims shall be included in Operating Expenses; # any bad debt loss, rent loss, or reserves for bad debt loss or rent loss; # costs incurred in connection with the operation of the business of the entity constituting Landlord, as distinguished from the costs of operating the Building, including accounting and [[Organization B:Organization]] matters, costs of defending any lawsuits with any mortgagee, costs of selling, syndicating, financing, mortgaging or hypothecating any of Landlords interest in the Building; # Landlords political or charitable contributions; # the cost of any tenant relations parties, events or promotions; # insurance which is not customarily carried by institutional owners of Comparable Buildings; # costs to repair or replace the Project resulting from any insured casualty (except commercially reasonable deductibles under Landlords insurance policies may be included in Operating Expenses to the extent permitted pursuant to Paragraph 7.1(b)); # repairs, alterations, additions, improvements or replacements made to rectify or correct any defect in the design, materials or workmanship of the Project (as opposed to the cost of normal repair, maintenance and replacement expected in light of the specifications of the applicable construction materials and equipment) or to comply with any Applicable Laws in effect as of the Substantial Completion Date (based on the current interpretation thereof by applicable governmental entity(ies) as of the Substantial Completion Date); # repairs, alterations, additions, improvements or replacements made to rectify or correct damage caused by the gross negligence or willful misconduct of Landlord or any of Landlords employees, agents, or contractors; # salaries, wages, bonuses and other compensation (including hospitalization, medical, surgical, retirement plan, pension plan, union dues, parking privileges, life insurance, including group life insurance, welfare and other fringe benefits, and vacation, holidays and other paid absence benefits) relating to managers, officers, directors, or executives of Landlord that are above the rank of general manager (or similar title); # fines, penalties or interest incurred due to violation by Landlord of the terms and conditions of any lease or any Applicable Laws or due to violation by any other tenant in the Project of the terms and conditions of any lease or any Applicable Laws; # interest, penalties or other costs arising out of Landlords failure to make timely payment of its obligations; # costs incurred to test, survey, cleanup, contain, abate, remove, or otherwise remedy Hazardous Materials or mold from the Project (except that Operating Expenses shall include costs incurred in connection with the prudent operation and maintenance of the Building, such as monitoring air quality); # costs incurred to correct defective equipment installed in the Project (as opposed to the cost of normal repair, maintenance and replacement expected in light of the specifications of the applicable equipment); # acquisition costs of any artwork; # Community Facilities District No. 2008-1 (Bay Meadows) assessment; # inheritance or estate taxes imposed upon or assessed against the interest of any person in the Project, or taxes computed upon the basis of the net income of any owners of any interest in the Project; # costs relating to the capital repair or capital replacement of the structural portions of the roof, foundations and exterior walls (except for any capital expenditures expressly included in Operating Expenses); and # any construction costs of the Project, Building, and Parking Facilities (including the Parking Garage). Tenants Proportionate Share of the management fees for the Project shall not exceed two percent (2%) of the Base Rent. If it shall not be lawful for Tenant to reimburse Landlord for all or any part of such taxes, the monthly rental payable to Landlord under this Lease shall be revised to net Landlord the same net rental after imposition of any such taxes by Landlord as would have been payable to Landlord prior to the payment of any such taxes.
Taxes and Operating Expenses. Tenant shall continue to pay Taxes and Operating Expenses for the Premises pursuant to the terms of the Lease through May 31, 2006. Effective June 1, 2006 and continuing thereafter throughout the Extension Term, Tenant shall pay Taxes and Operating Expenses for the entire Premises (including, without limitation the 14th Floor Premises, notwithstanding Paragraph 3 of the Fourth Amendment) pursuant to the terms of the Lease and as follows: # the Tax Base shall be the Taxes paid by landlord for the fiscal tax year commencing July 1, 2006 and ending June 30, 2007 and, accordingly, effective June 1, 2006, Paragraph 4.01(b) of the Lease is hereby deleted in its entirety and replaced with the following: (b) Tax Base shall mean Taxes which would be paid by Landlord for the fiscal tax year commencing July 1, 2006 and ending June 30, 2007.; # Tenants Proportionate Share of Taxes shall be 0.7565% for the 3rd Floor Premises, 8.4838% for the Initial Premises and 1.6100% for the 14th Floor Premises, and, accordingly, effective June 1, 2006, Paragraph 4.01(d) of the Lease is deleted in its entirety and replaced with the following: (d) Tenants Proportionate Share shall mean for purposes of [Sections 4.01 through 4.04] of this Lease and all calculations in connection therewith: # 0.7565% as to the 3rd Floor Premises (as such term is defined in the Fifth Amendment to Lease entered into between Landlord and Tenant in conjunction with this Lease (the 5th Amendment)), # 8.4838% as to the Initial Premises (as such term is defined in the 5th Amendment), and # 1.6100% as to the 14th Floor Premises (as such term is defined in the 5th Amendment).; # the Operating Expense Base shall be changed to the calendar year 2006, and, accordingly, effective as of June 1, 2006, Paragraphs
4.05(c) and 4.07 of the Lease are amended by deleting the date 1994 and replacing it with 2006; and # Tenants Proportionate Share of Operating Expenses shall be 0.8104% for the 3rd Floor Premises, 9.0878% for the Initial Premises, and 1.7200% for the 14th Floor Premises, and, accordingly, effective as of June 1, 2006, Paragraph 4.05(e) of the Lease is deleted in its entirety and replaced with the following: (e) Tenants Proportionate Share shall mean for the purposes of this Lease and all calculations in connection therewith: # 0.8104% as to the 3rd Floor Premises, # 9.0878% as to the Initial Premises, and # 1.7200% as to the 14th Floor Premises.
Taxes and Operating Expenses. Tenant shall not be obligated to pay any Taxes or Operating Expenses with respect to the Additional Premises.
Payment of Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate of the Operating Expenses for such calendar year. During the last month of each calendar year during the Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the ensuing calendar year. Tenant shall pay Tenants Proportionate Share of the Estimated Operating Expenses together with monthly installments of Base Rent for the calendar year to which the Estimated Operating Expenses applies on the first day of each calendar month during such year, in advance, prorated for any partial month, if applicable. If at any time during the course of the calendar year, Landlord determines that Operating Expenses are projected to vary from the then Estimated Operating Expenses by more than five percent (5%), Landlord may, by written notice to Tenant, revise the Estimated Operating Expenses for the balance of such calendar year, and Tenants monthly installments for the remainder of such year shall be adjusted so that by the end of such calendar year Tenant has paid to Landlord Tenants Proportionate Share of the revised Estimated Operating Expenses for such year.
Additional Advances for Operating Expenses. During any calendar quarter during which has made an Additional Advance to pay for, or reimburse for, Operating Expenses, will deliver a schedule (together with supporting detail reasonably satisfactory to ) reconciling # the aggregate amount of Additional Advances made to for Operating Expenses pursuant to the Project Budget during such calendar quarter and # the actual Operating Expenses incurred during such calendar quarter, and to the extent determines in its reasonable discretion that Operating Expenses actually incurred in such quarter were less than the amount of Additional Advances made to for Operating Expenses pursuant to the Project Budget during such calendar quarter, then may in its discretion either # decrease the amount to be disbursed for payment of Operating Expenses pursuant to the Project Budget for the following month (or, if necessary, months) in an amount necessary to reflect such difference or # require that , within ten (10) days following written request, deposit with an amount equal to such difference. For the avoidance of doubt, shall not make any Additional Advances for Taxes and Insurance Premiums pursuant to this [Section 2.20(i)] in duplication of any Additional Advance made pursuant to [Section 2.20(b)].
Operating Agreement. If Buyer elects to participate to the extent to the Buyer Promoted Interest in the Initial Well, and the Initial Well is completed as capable of producing hydrocarbons in commercial quantities, then all further operations on the Initial Well, including equipping the Initial Well for production and installing permanent production facilities, shall be conducted pursuant to the terms of the Operating Agreement, which shall become effective at that time. If Buyer elects not to participate to the extent to the Buyer Promoted Interest in the Initial Well, then the Operating Agreement shall become effective at the time of such election. In either case, after the Operating Agreement becomes effective, all further operations within the AMI shall be conducted pursuant to the terms of the Operating Agreement. Upon the Operating Agreement becoming effective, the Parties and Tamarack shall execute the Operating Agreement attached hereto as [Exhibit D]. Assuming Seller is successful in selling additional Working Interests to third parties to pay for One-Hundred Percent (100%) of the costs of the Initial Well on terms identical to that of Buyer, the Working Interests of all parties under the Operating Agreement shall be as follows: # Petro – 13.750%; # Compass – 4.486%; # CCF – 4.639%; # HOPPS – 1.500%; # Chesed – 1.875%; # Tamarack – 5.000%; # other parties – 68.75%. If Seller is unsuccessful in selling additional Working Interests to third parties to pay for One Hundred Percent (100%) of the costs of the Initial Well on terms identical to that of Buyer, Seller’s participating percentage interests in and to the AMI shall be ratably increased.
" XE "Direct Expenses" Direct Expenses" shall mean " XE "Operating Expenses" Operating Expenses" and "Tax Expenses XE "Tax Expenses" ."
Subject to the provisions of this Paragraph 3, Tenant shall pay during the Term as rent for the Premises the sums specified in the Basic Lease Information (as increased from time to time as provided in the Basic Lease Information or as may otherwise be provided in this Lease) (the Base Rent). Base Rent shall be payable in consecutive monthly installments, in advance, without prior notice, demand, deduction or offset, commencing on the Term Commencement Date and continuing on the first day of each calendar month thereafter, except that the first full monthly installment of Base Rent shall be payable upon Tenants execution of this Lease. If the Term Commencement Date is not the first day of a calendar month, then the Base Rent for the Partial Lease Month shall be prorated based on the actual number of days of that month, and shall be payable on the first day of the calendar month following the Term Commencement Date. Any and all payments which are due, or may become due and owing at any time in the future under the Lease, including but not limited to Rent, Additional Rent, CAM, Expense, Security Deposit, reimbursements, and fines shall be paid only in lawful currency of the United States of America (e.g. USD).
“Total Operating Expenses” has the meaning set forth in the Charter. The definition of “Total Operating Expenses” is intended to encompass only those expenses which are required to be treated as Total Operating Expenses under the NASAA Guidelines. As a result, and notwithstanding the definition in the Charter, any expense of the Company which is not part of Total Operating Expenses under the NASAA Guidelines shall not be treated as part of Total Operating Expenses for purposes hereof.
“Base Year Operating Expenses” means # for the Existing Space, the Operating Expenses (as defined in Paragraph 5.1.2) that are actually incurred in calendar year 2015, and # for the Additional Space, the Operating Expenses that are actually incurred in calendar year 2017.
Share of Operating Profits and Operating Losses. For so long as a Product is being sold in the Shared Territory, Unum and SGI will share all Operating Profits and all Operating Losses (as applicable) for each Product in the Shared Territory on the basis of fifty percent (50%) to SGI and fifty percent (50%) to Unum.
Operating Account Interest. Subject to [Section 9(h)], the Buydown Amount will accrue interest at the Operating Account Rate; provided that in no event shall interest accrue on # the Buydown Amount if # on any day the Buydown Amount is less than the Minimum Balance Requirement or # the average balance of funds in the Operating Account during any calendar month is less than the Minimum Balance Requirement and # that portion of the Buydown Amount that is in excess of the lesser of # the aggregate outstanding Purchase Price of all Transactions during any calendar month or # the Minimum Balance Requirement. Unless otherwise set forth in the Pricing Letter:
Projected Operating Budget. Within thirty (30) days after the beginning of each fiscal year, commencing with fiscal year 2018, furnish [[Organization B:Organization]] a month by month projected operating budget and cash flow of Castle and its Subsidiaries on a consolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President, Chief Financial Officer or other Authorized Officer of each Borrower to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.
Within Operating Committees. All decisions within the JDC and JCC will be and all decisions within the other committees, other than the JSC, where the decision relates to Products in the Shared Territory . If a dispute arises which cannot be resolved within or such , then if such dispute relates to a matter within the jurisdiction of the , the representatives of either Party may cause such matter to for as provided in .
(c) Operating Expense Base shall mean the Operating Expenses for the calendar year , adjusted to reflect the Operating Expenses that would have been incurred were the Building not less than 95% occupied.
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