Operating Expenses

Operating Expenses. Intentionally deleted.

Operating Expenses. As said term is used herein shall consist of all reasonable and customary expenses of the Building (as defined above) which shall be computed on the accrual basis and shall consist of all expenditures by Landlord to maintain all facilities in operation from the beginning of the term of this lease and such additional facilities in subsequent years as may be reasonably determined by Landlord to be necessary. All operating expenses shall be determined in accordance with generally accepted... accounting principles which shall be consistently applied. All operating expenses shall be "grossed up" to 95% occupancy for the 2005 Base Year and all subsequent lease years during the term. The term "Operating Expenses" as used herein shall mean all reasonable and customary expenses, costs and disbursements (but not replacement of capital investment items, new capital investment items, or specific costs especially billed to specific Tenants) of every kind and nature which Landlord shall pay or become obligated to pay because of or in connection with the operation of the Building, including, but not limited to, the following: a) Reasonable wages and salaries of all employees engaged in the operation and maintenance, or access control, of the Building and personnel who may provide traffic control relating to Ingress and egress to and from the parking area to the adjacent streets. All wages, taxes, insurance and benefits relating to employees providing these services, to the extent such apply to operating and maintaining of the Building, shall be included. b) All supplies, tools, equipment, and materials used in operation and maintenance of the Building. c) Costs of all utilities and taxes thereon, including the cost of water and power, heating, lighting, air conditioning and ventilating the Building. d) Reasonable cost of all maintenance and service agreements for the Building and the equipment therein, including, but not limited to, security/fire alarm service, HVAC service, window cleaning, and janitorial service including equipment, uniforms, supplies and sundries. e) Cost of all reasonable insurance relating to the Building (excluding terrorism insurance unless the same has been included in the expenses for the Base Year), including, but not limited to, the cost of casualty, rental abatement (to supplement loss of rents that may occur after property damage while premises is being restored) and personal injury and property liability insurance applicable to the Building and Landlord's personal property used in connection therewith. f) All real estate taxes, assessments and other charges and all non-capital improvement assessments and governmental charges, whether federal, state county or municipal and whether they be by taxing districts or authorities presently taxing the Building or by others, subsequently created or otherwise, and any other taxes and assessments attributable to the Building and its operation, together with the allocation paid by the Landlord of such taxes, assessments, and charges attributable to the tracts of land designated by Landlord as common area for the benefit of occupants of the Building. Tenant will promptly pay any increase in ad valorem taxes resulting from Tenant's personal property and form the value of Tenant's leasehold improvements to the extent that same exceed Building standard allowances. g) Cost of repairs and general maintenance of the Building. h) Amortization of the cost of installation of capital investment items which are for the purpose of reducing operation costs (to the extent of any reduction thereby achieved) or which may be required by governmental authority (as a result of changes of law after the Lease Commencement Date) and will reduce operation costs. i) Reasonable landscape maintenance costs for the Building and the tracts of land designated by Landlord as common area for the benefit of occupants of the Building. j) Any lease payments made by Landlord for any equipment (i.e., personal property only) used in the operation and maintenance of the Building. k) Legal, architectural or engineering fees incurred directly in connection with services required to be provided by Landlord to its tenants and Landlord's central accounting costs applicable to the Building. l) Management fees paid to the manager of the Building (who may be Landlord or a person or entity related to or affiliated with Landlord) equal to a maximum of four percent (4)% of the gross income received by Landlord in connection with the Building. m) All assessments and charges imposed against the Building under any private covenant, restriction or easement agreement. View More

Operating Expenses. Shall mean real estate taxes, payments "in lieu of real estate taxes," insurance premiums and other expenses as referred to in Article 4 of, and as more particularly described in Exhibit G to the General Terms of Lease.

Operating Expenses. Shall mean, for any period, all cash expenditures of Maker and the Property Owner actually paid (and properly payable) during such period for (i) real and personal property taxes on the Real Property; (ii) principal and interest on the secured Real Property debt; (iii) premiums for liability, property and other insurance on the Real Property; (iv) the Management Fee; (v) sales and rental taxes relating to the Real Property; and (vi) normal, reasonable and customary operating expenses of the... Real Property. In no event shall Operating Expenses include amounts distributed to the partners or shareholder's of Maker or the Property Owner, any payments made on the Loan or any other loan obtained by Maker, amounts paid out of any funded reserve expressly approved by Payee, if any, non-cash expenses such as depreciation, or any cost or expense related to the restoration of the Property in the event of a casualty or eminent domain taking paid for from the proceeds of insurance or an eminent domain award or any reserve funded by insurance proceeds or eminent domain awards. View More

Operating Expenses. Means all costs of ownership, building management, maintenance, repairs and operation of the Property, including but not limited to roof and structural maintenance, Real Estate Taxes, Insurance Premiums, CAM Expenses, reasonable management fees, wages and salary costs of building management personnel, overhead and operational costs of a management office, janitorial, Utilities, and professional services such as accounting and legal fees. Operating Expenses do not include the cost of capital... improvements, the cost of management office equipment and furnishings, depreciation on Landlord's original investment, the cost of tenant improvements, real estate brokers' fees, advertising of space for lease, or interest or depreciation on capital investments. View More

Operating Expenses. Shall mean all costs and expenses relating to the operation, maintenance and management of the Project, including, without limitation, utilities, repairs and maintenance, insurance, property taxes and assessments, advertising expenses, payroll and related taxes, equipment lease payments, a management fee equal to the actual management fee, which shall not exceed 4% of the gross revenue of the Project, but excluding actual Capital Expenditures, depreciation, amortization, and deposits required... to be made to the Reserve Funds; provided, however such costs and expenses shall be subject to adjustment by Agent to normalize such costs and expenses. View More

Operating Expenses. Means all operating, general and administrative expenses of the Company as determined under generally accepted accounting principles (including regular compensation payable to the Advisor), excluding, however, the following: (i) expenses of raising capital; (ii) interest payments; 2 (iii) taxes; (iv) non-cash expenditures, such as depreciation, amortization and bad debt; (v) reserves; (vi) incentive fees paid to the Advisor, if any; and (vii) costs related directly to asset... acquisition, operation or disposition. View More

Operating Expenses. , for purposes of Section 10 hereof, all costs and expenses incurred by the Fund, the Advisor or any of their respective Affiliates, as determined under generally accepted accounting principles, which in any way are related to the operation of the Fund or to the Fund's business, including advisory fees, but excluding (i) Organization and Offering Expenses, (ii) interest payments, (iii) taxes, (iv) non-cash expenditures such as depreciation, amortization and bad debt reserves, (v) incentive fees... payable to the Advisor, including the Subordinated Disposition Fee described in Section 8(c) hereof, (vi) the subordinated participation in net sales proceeds, distribution upon listing and distribution upon termination to be received by the Advisor pursuant to the OP Partnership Agreement, (vii) Acquisition Fees and Acquisition Expenses, and (viii) real estate commissions on the resale of property and other expenses connected with the acquisition, disposition and ownership of real estate interests, mortgage loans, or other property (such as the costs of foreclosure, insurance premiums, legal services, maintenance, repair, and improvement of property). View More

Operating Expenses. All costs and expenses incurred by Landlord during any Fiscal Year, as defined in Subsection 1.G. above, in managing, operating and maintaining the Building and the Land, as determined by Landlord in accordance with an accounting system established and regularly applied by Landlord. Such costs and expenses shall include, but not be limited to, the cost of water, gas, sanitary sewer, storm sewer, electricity and other utilities, trash removal, telephone services, insurance, janitorial and char... services and supplies, security services, labor costs (including social security taxes and contributions and fringe benefits), charges under maintenance and service contracts (including but not limited to chillers, boilers, elevators, window and security services), central heating and air conditioning, management fees, business taxes, license fees, public space and vault rentals and charges, costs, charges and other assessments made by or for any entity operating a business improvement district in which the Building is located, condominium fees, assessments, dues, expenses, and other charges which are paid by Landlord as a result of the Building, the Land or part or all of both being part of a condominium, and the cost of any equipment or services provided by Landlord in connection with the servicing, operation, maintenance, repair and protection of the Building and the Land and related exterior appurtenances (whether or not provided on the Lease Commencement Date). Operating Expenses shall include the cost of capital improvements made by Landlord to manage, operate or maintain the Building, together with any financing charges incurred in connection therewith, provided that such costs shall be amortized over the useful life of the improvements. View More

Operating Expenses. The expenses of Licensee (other than Management Expenses) for (i) auditing and legal costs, (ii) annual fees relating to the Licensee's over-the-counter listings and (iii) all costs of preparing, filing and distributing registration statements, proxy statements, shareholder reports and otherwise complying with federal and state laws applicable to Licensee.