Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120) days after the end of each fiscal year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement of actual Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimated Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Lease is in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.
Computation of Operating Expense Adjustment.Reconciliation. Operating Expense AdjustmentReconciliation shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscalcalendar year as determined as hereinafter provided.below. Within one hundred twenty (120) days after the end of each fiscalcalendar year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement of actual Operating Expenses for the fiscalcalendar year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease.Reconciliation. If such Annual Statementstatement shows that Tenants monthly payment based upon Estimated Operating Expenses isare less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder.statement. If such Annual Statementstatement shows that Tenants payments of Estimated Operating Expenses for the previous calendar year exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20)thirty (30) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense AdjustmentReconciliation shall be paid by the appropriate party within twenty (20)thirty (30) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense AdjustmentReconciliation shall be prorated based on a monththe actual number of 30 days and the number of calendar months during such fiscalcalendar year that this Lease is in effect. Notwithstanding anything to the contrary contained in Paragraph 4.1 or 4.2, Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4those paragraphs shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.
Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120) days after the end of each fiscal year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement of actual Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimated Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Lease is in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, suchThe Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claimunless Tenant, within 90 days after Tenants receipt thereof, shall contest any item therein by giving written notice to Landlord within said ninety (90)Landlord, specifying each item contested and the reason therefor. If, during such 90 day period, the parties shall promptly meetTenant reasonably and attempt in good faith to resolvequestions or contests the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days afteraccuracy of Landlords receiptstatement of Tenants Share of Operating Expenses, Landlord will provide Tenant with access to Landlords books and records relating to the operation of the Project, Landlords calculation of Operating Expenses and such other information reasonably requested by Tenant relating thereto (the Expense Information). If after Tenants review of such Expense Claim (Expense Resolution Period),Information, Landlord and Tenant cannot agree upon the amount of Tenants Share of Operating Expenses, then Tenant shall have the right to examinehave an independent public accounting firm selected by Tenant from among the 4 largest in the United States, working pursuant to a fee arrangement other than a contingent fee (at Tenants sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld, conditioned or delayed), audit and/or review the Expense Information for the year in question (the Independent Review). The results of any such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with respect to Operating Expenses for the calendar year in question exceeded Tenants Share of Operating Expenses for such calendar year, Landlord shall at Landlords Records, subjectoption either # credit the excess amount to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survivenext succeeding installments of estimated Operating Expenses or # pay the excess to Tenant within 30 days after delivery of such statement, except that after the expiration or earlier termination of this Lease.Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenants payments with respect to Operating Expenses for such calendar year were less than Tenants Share of Operating Expenses for the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such statement. If the Independent Review shows that Tenant has overpaid with respect to Operating Expenses by more than 5% then Landlord shall reimburse Tenant for all costs incurred by Tenant for the Independent Review. Operating Expenses for the calendar years in which Tenants obligation to share therein begins and ends shall be prorated. Notwithstanding anything set forth herein to the contrary, if the Project is not at least 95% occupied on average during any year of the Term, Tenants Share of Operating Expenses for such year shall be computed as though the Project had been 95% occupied on average during such year.
Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120)90 days after the end of each fiscal year, orcalendar year (or such longer period as soon thereafter as practicable,may be reasonably required), Landlord shall deliverfurnish to Tenant a statement (an Annual Statement) showing in reasonable detail: # the total and Tenants Share of actual Operating Expenses for the fiscal year just ended, accompanied by a computationprevious calendar year, and # the total of Tenants payments in respect of Operating Expense Adjustment (the Annual Statement). Upon written requestExpenses for such year. If Tenants Share of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimatedactual Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt offor such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows thatyear exceeds Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided thatfor such year, the excess shall be due and payable by Tenant is not in default under this Lease) Landlord shall pay to Tenant the differenceas Rent within twenty (20)30 days after delivery of such statementAnnual Statement to Tenant. If this Lease has been terminatedTenants payments of Operating Expenses for such year exceed Tenants Share of actual Operating Expenses for such year Landlord shall pay the excess to Tenant within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Leaseif Tenant is delinquent in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. Landlords and Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statementobligations to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writingpay any overpayments or deficiencies due pursuant to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5this paragraph shall survive the expiration or earlier termination of this Lease.
Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120) days after the end of each fiscal year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement of actual Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimated Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Lease is in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, suchThe Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claimunless Tenant, within 45 days after Tenants receipt thereof, shall contest any item therein by giving written notice to Landlord within said ninety (90)Landlord, specifying each item contested and the reason therefor. If, during such 45 day period, the parties shall promptly meetTenant reasonably and attempt in good faith to resolvequestions or contests the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days afteraccuracy of Landlords receiptstatement of Tenants Share of Operating Expenses, Landlord will provide Tenant with access to Landlords books and records relating to the operation of the Project and such information as Landlord reasonably determines to be responsive to Tenants questions (the Expense Information). If after Tenants review of such Expense Claim (Expense Resolution Period),Information, Landlord and Tenant cannot agree upon the amount of Tenants Share of Operating Expenses, then Tenant shall have the right to examinehave an independent public accounting firm selected by Tenant from among the 4 largest in the United States, working pursuant to a fee arrangement other than a contingent fee (at Tenants sole cost and expense) and approved by Landlord (which approval shall not be unreasonably withheld or delayed), audit and/or review the Expense Information for the year in question (the Independent Review). The results of any such Independent Review shall be binding on Landlord and Tenant. If the Independent Review shows that the payments actually made by Tenant with respect to Operating Expenses for the calendar year in question exceeded Tenants Share of Operating Expenses for such calendar year, Landlord shall at Landlords Records, subjectoption either # credit the excess amount to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survivenext succeeding installments of estimated Operating Expenses or # pay the excess to Tenant within 30 days after delivery of such statement, except that after the expiration or earlier termination of this Lease.Lease or if Tenant is delinquent in its obligation to pay Rent, Landlord shall pay the excess to Tenant after deducting all other amounts due Landlord. If the Independent Review shows that Tenants payments with respect to Operating Expenses for such calendar year were less than Tenants Share of Operating Expenses for the calendar year, Tenant shall pay the deficiency to Landlord within 30 days after delivery of such statement.
Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120)90 days after the end of each fiscal year, orcalendar year (or such longer period as soon thereafter as practicable,may be reasonably required), Landlord shall deliverfurnish to Tenant a statement (an Annual Statement) showing in reasonable detail: # the total and Tenants Share of actual Operating Expenses for the fiscal year just ended, accompanied by a computationprevious calendar year, and # the total of Tenants payments in respect of Operating Expense Adjustment (the Annual Statement). Upon written requestExpenses for such year. If Tenants Share of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimatedactual Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, then Tenant shall pay to Landlord the difference within twenty (20) days after receipt offor such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows thatyear exceeds Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided thatfor such year, the excess shall be due and payable by Tenant is not in default under this Lease) Landlord shall pay to Tenant the differenceas Rent within twenty (20)30 days after delivery of such statementAnnual Statement to Tenant. If this Lease has been terminatedTenants payments of Operating Expenses for such year exceed Tenants Share of actual Operating Expenses for such year Landlord shall pay the excess to Tenant within 30 days after delivery of such Annual Statement, except that after the expiration, or earlier termination of the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Leaseif Tenant is delinquent in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses.Rent, Landlord shall pay the excess to Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.deducting all other amounts due Landlord.
Computation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120)ninety (90) days after the endconclusion of each fiscal year, orcalendar year (or such longer period as soon thereafter as practicable,may be reasonably required by Landlord), Landlord shall deliverfurnish to Tenant a statement ofshowing in reasonable detail the actual Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that TenantExpenses, Tenant’s payment based upon Estimated Operating Expenses is less than Tenants ProportionateAdjusted Share of Operating Expenses, thenand the cost of providing utilities to the Premises for the previous calendar year (“Landlord’s Statement”). Any additional sum due from Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate partydue and payable within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Operating Expense Adjustment shall be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Lease is in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90)thirty (30) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim.invoice therefor. If the parties are unableamounts paid by Tenant pursuant to resolvethis Section exceed Tenant’s Adjusted Share of Operating Expenses for the matters set forth inprevious calendar year, then Landlord shall credit the Expense Claim within thirty (30) days after Landlorddifference against the Rent next due and owing from Tenant; provided that, if the Lease term has expired, Landlord shall accompany Landlord’s receiptStatement with payment for the amount of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.such difference.
ComputationPayment of Estimated Operating Expense Adjustment. Operating Expense AdjustmentExpenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate of the difference between Estimated Operating Expenses and actual Operating Expenses for anysuch fiscal year determinedmade with respect to such fiscal year as hereinafter provided. Within one hundred twenty (120) days afterLandlord shall have the endright 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,year during the Term, or as soon thereafter as practicable, Landlord shall deliver togive Tenant a statementwritten notice of actualthe Estimated Operating Expenses for the ensuing fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlordyear. Tenant shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimated Operating Expenses is less thanpay Tenants Proportionate Share of the Estimated Operating Expenses, then TenantExpenses 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 paybe construed to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitutebe Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants paymentsProportionated Share of the Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenantfor the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated orfirst full month due on the Term hereof has expired prior to the date of such statement, then the Operating Expense AdjustmentCommencement Date shall be paid by the appropriate party within twenty (20) days after the dateTenant upon Tenants execution of delivery of the statement. Should this Lease commence or terminateLease. If at any time other thanduring the first daycourse 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 Expense Adjustment shallExpenses for such year, such revised installment amounts to be prorated based on a month of 30 days and the number of calendar months during such fiscal year that this Lease is in effect. Landlords failure to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to pay Tenants Proportionate Share of Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period, such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.Additional Rent for all purposes hereunder.
ComputationPayment of Estimated Operating Expense Adjustment. Operating Expense AdjustmentExpenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate of the difference between Estimated Operating Expenses and actual Operating Expenses for any fiscal year determined as hereinafter provided. Within one hundred twenty (120) days aftersuch calendar year. During the endlast month of each fiscal year,calendar year during the Term, or as soon thereafter as practicable, Landlord shall deliver togive Tenant a statementwritten notice of actualthe Estimated Operating Expenses for the fiscal year just ended, accompanied by a computation of Operating Expense Adjustment (the Annual Statement). Upon written request of Tenant, Landlord shall supply sufficient backup data, as may be reasonably requested by Tenant, to reasonably demonstrate to Tenant the accuracy of such Annual Statement in accordance with the provisions of this Lease. If such Annual Statement shows that Tenants payment based upon Estimated Operating Expenses is less than Tenants Proportionate Share of Operating Expenses, thenensuing calendar year. Tenant shall pay to Landlord the difference within twenty (20) days after receipt of such statement, such payment to constitute Additional Rent for all purposes hereunder. If such Annual Statement shows that Tenants payments of Estimated Operating Expenses exceed Tenants Proportionate Share of Operating Expenses, then (provided that Tenant is not in default under this Lease) Landlord shall pay to Tenant the difference within twenty (20) days after delivery of such statement to Tenant. If this Lease has been terminated or the Term hereof has expired prior to the date of such statement, then the Operating Expense Adjustment shall be paid by the appropriate party within twenty (20) days after the date of delivery of the statement. Should this Lease commence or terminate at any time other than the first day of the fiscal year, Tenants Proportionate Share of the Estimated Operating Expense AdjustmentExpenses 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 prorated based on a monthadjusted so that by the end of 30 days and the number ofsuch calendar months during such fiscal year that this Lease is in effect. Landlords failureTenant has paid to provide any notices or statements within the time periods specified in Paragraphs 7.3 or 7.4 shall in no way excuse Tenant from its obligation to payLandlord Tenants Proportionate Share of the revised Estimated Operating Expenses. Tenant shall have ninety (90) days after receipt of an Annual Statement to notify Landlord in writing that Tenant disputes the correctness of the Annual Statement (Expense Claim). If Tenant does not object in writing to an Annual Statement within said ninety (90) day period,Expenses for such Annual Statement shall be final and binding upon Tenant. If Tenant delivers an Expense Claim to Landlord within said ninety (90) day period, the parties shall promptly meet and attempt in good faith to resolve the matters set forth in the Expense Claim. If the parties are unable to resolve the matters set forth in the Expense Claim within thirty (30) days after Landlords receipt of the Expense Claim (Expense Resolution Period), then Tenant shall have the right to examine Landlords Records, subject to the terms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall survive the expiration or earlier termination of this Lease.year.
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