Payment of Costs. shall have received evidence satisfactory to that all sums due in connection with the construction of the Improvements have been paid in full (or will be paid out of the funds requested to be advanced) and that no party claims or has a right to claim any statutory or common law lien arising out of the construction of the Improvements or the supplying of labor, material, and/or services in connection therewith.
Payment of Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate of the Operating Expenses for such fiscal year made with respect to such fiscal year as hereinafter provided. Landlord shall have the right from time to time to revise its fiscal year and interim accounting periods so long as the periods as so revised are reconciled with prior periods in a reasonable manner. During the last month of each fiscal year during the Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the ensuing fiscal year. Tenant shall pay Tenants Proportionate Share of the Estimated Operating Expenses with installments of Base Rent for the fiscal year to which the Estimated Operating Expenses applies in monthly installments on the first day of each calendar month during such year, in advance. Such payment shall be construed to be Additional Rent for all purposes hereunder. Tenants Proportionated Share of the Estimated Operating Expenses for the first full month due on the Term Commencement Date shall be paid by Tenant upon Tenants execution of this Lease. If at any time during the course of the fiscal 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 fiscal year, and Tenants monthly installments for the remainder of such year shall be adjusted so that by the end of such fiscal year Tenant has paid to Landlord Tenants Proportionate Share of the revised Estimated Operating Expenses for such year, such revised installment amounts to be Additional Rent for all purposes hereunder.
Operating Account. From time to time, [[Organization C:Organization]] may provide funds to [[Organization B:Organization]] for deposit to an interest bearing account (the “Operating Account”) in accordance with this [Section 9]. The Operating Account shall be a subaccount of an interest-bearing savings account (the “Omnibus Account”) maintained by [[Organization B:Organization]] as agent for the benefit of [[Organization C:Organization]] and other sellers of mortgage related assets with a bank determined by [[Organization B:Organization]] its sole discretion (the “Depository”). The [[Organization B:Organization]] shall have non-exclusive withdrawal rights from the Operating Account. [[Organization C:Organization]] acknowledges that [[Organization B:Organization]] acts as [[Organization C:Organization]]’s agent for the limited purpose of placing funds with the Depository, and that funds held by [[Organization B:Organization]] as [[Organization C:Organization]]’s agent are not a deposit account or other liability of [[Organization B:Organization]]. [[Organization B:Organization]] shall maintain records of [[Organization C:Organization]]’s interest in the funds maintained in the Omnibus Account. Withdrawals may be paid by wire transfer or any other means chosen by [[Organization B:Organization]] from time to time in its sole discretion.
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 Agreement. A copy of the Operating Agreement of such Credit Party certified by the sole or managing member of such Credit Party to be true and correct as of the Closing Date.
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 Accounts. Maintain all accounts with the .
Earnings Before Income Taxes ("EBIT") which equals net income plus taxes.
Costs. Tenant shall reimburse Landlord within thirty (30) days after request for any and all additional or increased costs incurred by Landlord as a result of or in connection with the Cafeteria, including, but not limited to, additional insurance premiums, additional taxes or assessments, or additional janitorial or trash removal costs.
Costs. The Company and Advisor shall each pay one-half of the costs and expenses of such arbitration, and each shall separately pay its counsel fees and expenses unless otherwise required by law.
AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.
And AllDrafts generates clean Word and PDF files from any draft.