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.
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.calendar year. During the last month of each fiscalcalendar year during the Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of the Estimated Operating Expenses for the ensuing fiscalcalendar year. Tenant shall pay Tenants Proportionate Share of the Estimated Operating Expenses together with monthly installments of Base Rent for the fiscalcalendar 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 Rentadvance, prorated 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.any partial month, if applicable. If at any time during the course of the fiscalcalendar 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 fiscalcalendar year, and Tenants monthly installments for the remainder of such year shall be adjusted so that by the end of such fiscalcalendar 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.year.
Payment of Estimated Operating Expenses. Estimated Operating Expenses for any particular yearExpense Payments. Landlord shall mean Landlordsdeliver to Tenant a written estimate of the Operating Expenses for such fiscaleach calendar year made with respect to such fiscal year as hereinafter provided.during the Term (the Annual Estimate), which may be revised by Landlord shall have the right from time to time to revise its fiscal yearduring such calendar year. Commencing on the Commencement Date 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 installmentscontinuing on the first day of each calendar month during such year, in advance. Such paymentthe Term, Tenant shall be construedpay Landlord an amount equal to be Additional Rent for all purposes hereunder.1/12th of Tenants Proportionated Share of the Estimated Operating ExpensesAnnual Estimate. Payments for the first fullany fractional calendar 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.prorated.
Commencing with the first Operational Year after Landlord shall be entitled to receive an Operating Expense Payment of Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlords estimateand annually thereafter, during the term of the lease, Tenant shall pay to Landlord, as additional rent for the then Operational Year, Tenants projected share of 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 periodsOperational Year, 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 inequal monthly installments on the first day of each calendar month during such year, in advance. Such payment shall be construedmonth. If the Operating Statement furnished by Landlord 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 an Operational Year shall indicate that the payments made by Tenant for such fiscal yearOperational Year exceeded the Operating Expense Payment for such Operational Year, Landlord shall credit Tenant has paidthe amount of such excess against the next annual fixed rent and additional rent due hereunder and refund any remaining excess at the expiration of the term; if such Operating Statement furnished by Landlord to LandlordTenant hereunder shall indicate that the Operating Expense Payment exceeded Tenants ProportionateProjected Share of Operating Expenses, Tenant shall forthwith pay the revised Estimated Operating Expenses foramount of such year, such revised installment amountsexcess to be Additional Rent for all purposes hereunder.Landlord.
PaymentOperating Expense Payments. Landlord shall deliver to Tenant, not later than April 1st of Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlordseach calendar year, a written estimate of the Operating Expenses for such fiscalcalendar year made with respect to such fiscal year as hereinafter provided.during the Term (the Annual Estimate), which may be revised by Landlord shall have the right from time to time to revise its fiscal yearduring such calendar year. Commencing on the Commencement Date 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 sooncontinuing 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 paymentthe Term, Tenant shall be construedpay Landlord an amount equal to be Additional Rent for all purposes hereunder.1/12th of Tenants Proportionated Share of the Estimated Operating ExpensesAnnual Estimate. Payments for the first fullany fractional calendar 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.prorated.
PaymentComputation of Operating Expense Adjustment. Operating Expense Adjustment shall mean the difference between Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate of theExpenses and actual Operating Expenses for suchany fiscal year made with respect to such fiscal yeardetermined as hereinafter provided. Landlord shall haveWithin one hundred twenty (120) days after 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 monthend of each fiscal year during the Term,year, or as soon thereafter as practicable, Landlord shall givedeliver to Tenant written noticea statement of the Estimatedactual Operating Expenses for the ensuing fiscal year.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 Estimated Operating Expenses with installmentscorrectness of Base Rent for the fiscal yearAnnual Statement (Expense Claim). If Tenant does not object in writing to which the Estimated Operating Expenses applies in monthly installments on the firstan Annual Statement within said ninety (90) day of each calendar month duringperiod, such year, in advance. Such paymentAnnual Statement shall be construedfinal and binding upon Tenant. If Tenant delivers an Expense Claim to be Additional Rent for all purposes hereunder. TenantLandlord 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 Proportionated Sharereceipt of the Estimated Operating Expenses forExpense Claim (Expense Resolution Period), then Tenant shall have the first full month due onright to examine Landlords Records, subject to the Term Commencement Dateterms and conditions set forth in Paragraph 7.7 below. This Paragraph 7.5 shall be paid by Tenant upon Tenants executionsurvive the expiration or earlier termination 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.
Payment of Estimated Operating Expenses. Estimated Operating Expenses for any particular year shall mean Landlords estimate ofCommencing on 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.Term Commencement Date, Tenant shall paypay, as Additional Rent, Tenants Proportionate Share of the Estimated Operating Expenses with installments of Base Rent for(defined below) in 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 Landlordmanner set forth below. Tenants Proportionate Share of the revised Estimated Operating Expenses for such year, such revised installment amountsis in addition to the Base Rent required to be Additional Rent forpaid hereunder. Landlord and Tenant acknowledge that if physical changes are made to the Premises or Building or the configuration of either, Landlord may at its discretion reasonably adjust Tenants Proportionate Share to reflect the change. Landlords determination of Tenants Proportionate Share shall be conclusive so long as it is reasonably and consistently applied. Operating Expenses shall mean all purposes hereunder.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 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 Project (as determined in a reasonable manner) other than those expenses and costs which are specifically attributable to Tenant or which are expressly made the financial responsibility of Landlord or specific tenants of the Building or Project pursuant to this Lease. Operating Expenses shall include, but are not limited to, the following:
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