Operating Expense

Operating Expense. Means the costs and expenses paid by Landlord in connection with the ownership, operation, repair, maintenance and management of the Building and the Land, including, but not limited to, those expenses paid for or in connection with any and all of the item, activities and provided services described herein. In no event shall increases in the cost of providing services to, or maintenance of, the Building which are included in Operating Expense exceed four percent (4%) in any year. (i) Real... Estate Taxes; maintenance and repair of the Land, including, without limitation, landscaped areas, lawns, parking areas (in including resurfacing and restriping), sidewalks, infrastructure and other facilities (but no buildings other than the Building) located on the Land; maintenance and repair of the Building; janitorial service, cleaning (including window washing) and trash removal for the Building; maintenance of the common areas of the Land including snow and rubbish removal; Building management, including reasonable management fees (but, in any event, limited to a maximum amount equal to 4 percent of the net rent received by Landlord after deducting Landlord's expenses therefrom), and charges and wages, payroll taxes, unemployment insurance costs and benefit payments to or for the benefit of Building management employees and/or Landlord's Building on- site personnel; all utility service provided to the Land or Building not directly metered to and paid by any tenant (but excluding the cost of providing electricity to other tenants in excess of the amount supplied to Tenant at no charge); those capital improvements required by law or which directly reduce other operation and/or maintenance expenses (provid- 4 ed that the costs of such capital improvements shall be amortized over the reasonable useful life of the capital improvement and only the yearly amortizing amount, together with interest on the unamortized balance of the cost, shall be part of Operating Expenses; provided further, that with respect to capital improvements which reduce expenses, the amount included in any year shall not exceed the lesser of such amortized amount and the actual cost savings realized in such year as a result of such capital improvement); insurance premiums and other charges incurred by Landlord with respect to insurance relating to the Building and the Land and the operation and maintenance thereof; reasonable auditing and accounting fees; sales and excise taxes and similar taxes upon any of the expenses listed herein; reasonable legal fees with respect to the Building and Land other than those incurred in the negotiation or enforcement of tenant leases or in relation to any sale or refinancing of the whole or any part of the Building or the Land; and any and all other expenditures by Landlord which are properly expensed in accordance with generally accepted accounting principles consistently applied with respect to the operation, repair, maintenance, protection and management of the Building and Land. (ii) Notwithstanding the foregoing provisions, Operating Expense shall not include costs or expenses paid or payable for any of the following: repairs or other work occasioned by fire, windstorm or other insured casualty or hazard, to the extent that Landlord receives insurance proceeds for such repair or other work; repairs or rebuilding necessi- tated by condemnation; depreciation and amortization of the Building; the salaries and benefits of executive officers of Landlord or the Building manager, if any; ground lease payments or interest and principal payments on any mortgage or other indebtedness of Landlord; or capital improvements other than those required by law or which reduce the operation expenses of the Building. View More

Operating Expense. Tenant shall be responsible for its pro-rata share of increases in general operating expenses above a base year of 2006.

Operating Expense. All (x) direct expenses attributable to the operation of the Magazine Business, including COGS, commissions, direct departmental expenses, newsstand rack and pocket expense, and all expenses for departmental employees to the extent directly employed by the Magazine Business (MEREDITH employees not employed within the Magazine Business unit, but otherwise considered to be working directly for the Magazine Business shall be as agreed from time to time by MEREDITH and MSO, and initially shall... include those positions identified on Schedule B-1 hereto, as the same may be amended on a quarterly basis with the agreement of MEREDITH and MSO); (y) direct expenses attributable to the operation of the Magazine Business borne at MEREDITH's corporate level, such as rent for space used by the Magazine Business and employee benefits of employees of the Magazine Business, will be allocated pro rata based on the actual usage of such space, employees by the Magazine Business, as set forth on Schedule B-2; and (z) a documented allocated share of corporate sales and marketing and research allocated pro-rata consistent with other MEREDITH titles View More