Actual Operating Costs. After the close of each Operating Year during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs during the preceding Operating Year. If such costs for any Operating Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 5.a, Tenant shall pay the amount of such excess to Landlord as additional rent within thirty (30) days after receipt by Tenant of such statement. If such statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to Section 5.a, then the amount of such overpayment shall be paid by Landlord to Tenant within thirty (30) days following the date of such statement or credited by Landlord to the payment of rent next due.
Actual Operating Costs. Within ninety (90) days after the close of each Lease Year during the term hereof, Landlord shall deliver to Tenant a written statement setting forth the actual Operating Costs during the preceding Lease Year. If such costs for any Lease Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to paragraph 7(b)(1) for such Lease Year, Tenant shall pay the amount of such excess to Landlord as additional rent within thirty (30) days after receipt of such statement by Tenant. If such statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to paragraph 7(b)(1), then the amount of such overpayment shall be credited toward the next monthly rent payable by Tenant.
Actual Operating Costs. Within ninety (90) days after the close of each Expense Year during the term hereof, Landlord shall endeavor to deliver to Tenant a written statement (a “Statement”) setting forth the actual Operating Expenses during the preceding Expense Year (“Actual Operating Expenses”). If such costs for any Expense Year exceed the Estimated Operating Costs paid by Tenant to Landlord pursuant to Section 9(b)(1) for such Expense Year, Tenant shall pay the amount of such excess to Landlord as Additional Rent within thirty (30) days after receipt of such Statement by Tenant. If such Statement shows such costs to be less than the amount paid by Tenant to Landlord pursuant to Section 9(b)(1), then the amount of such overpayment shall be credited toward the next monthly rent payable by Tenant or, if this Lease has terminated, shall be paid to Tenant concurrently with Landlord’s delivery of such Statement.
Actual Operating Costs. All costs incurred or to be incurred by Landlord for any given calendar year in connection with the management, operation, safety, security, replacement, and maintenance of the Building, the Land, the Common Areas, and all other improvements on the Land; as more fully defined in Exhibit C attached hereto.
Actual Operating Costs. 20.4.1 The Borrower shall provide the Technical Adviser with details of amounts which are to be claimed as Actual Operating Costs (including any supporting information reasonably requested by the Technical Adviser):
(a) on the last Banking Day of the sixth month after the Initial Charter Hire Date and then on the last Banking Day of every subsequent period of six (6) months occurring within the Security Period; and
(b) following a request by the Facility Agent (acting reasonably) prior to a distribution being made under clause 5.2.8 of the Deed of Proceeds and Priorities.
20.4.2 The Facility Agent shall request that the Technical Adviser promptly reviews the details provided pursuant to clause 20.4.1 and confirms to the Facility Agent whether the amount claimed in relation to Actual Operating Costs is equal to the actual amount of Actual Operating Costs.
21.1 Law
Actual Operating Costs. Within ninety (90) days after the end of each year or as soon thereafter as practicable, Landlord shall deliver to Tenant a written statement setting forth Tenant's Pro Rata Share of the actual Operating Costs and Taxes in excess of the Base Amount during the preceding year. If the actual Operating Costs and Taxes in excess of the Base Amount exceed the estimates for such amounts paid by Tenant during the year, Tenant shall pay the amount of such excess to Landlord as Additional Rent within thirty (30) days after receipt of such statement. If the actual Operating Costs and Taxes in excess of the Base Amount are less than the amount paid by Tenant to Landlord, then the amount of such overpayment by Tenant shall be credited against the next Additional Rent payable by Tenant hereunder.
Actual Operating Costs. For purposes of this Agreement, "Actual Operating ---------------------- Costs" means all costs or expenses reasonably and actually incurred by Xxxxxx in the conduct of the Business after the Effective Date, including costs or expenses related to the day-to-day upkeep, normal maintenance, insurance and taxes for the Site but excluding extraordinary repairs or replacement to walls or structural components of the improvements on the Site plus an amount equal to the total cost and expense to Xxxxxxx, Xxxxx of employing Xx. Xxxxxxx Xxxxxxxxx as Operations Manager, such amount not to exceed his present compensation package which is equal to $121,050.
Actual Operating Costs. Within ninety (90) days of the end of each Fiscal Year, the Lessor will remit to the Lessee a statement audited by the Lessor's chartered accountants, showing the actual amount of the Building Operating Costs for the corresponding Fiscal Year as well as the exact amount of the Lessee's Proportional Share for this period. If the amount then determined by the Lessor is higher or lower than the total amounts already paid to the Lessor by the Lessee, then the appropriate adjustments will be made within the thirty (30)-day period following the submission of the statement to the Lessee. The Lessee will be entitled to question the Lessor and his accountants with respect to the statement audited by the Lessor's chartered accountants. The Lessor agrees to reply rapidly to the Xxxxxx's questions, including the submission of the supporting documents requested by the Lessee, particularly if the Lessee deems that the Operating Costs were not calculated according to generally accepted accounting principles and the provisions of the present Lease. However and notwithstanding this right to question, the Lessee will pay, on request, any amount that becomes due and payable. If, following the Lessor's answers, the Lessee is still not satisfied with the Operating Costs and Taxes invoiced, the Lessee may ask some independent auditors, selected by the Lessee and accepted by the Lessor, at the Lessee's expense, to prepare a detailed and certified report, justifying that the Lessee's Operating Costs and Tax invoice, under the Lease, is correct. Should this independent auditors' report show that the amounts invoiced to the Lessee by the Lessor are more than two point five percent (2.5%) higher than the amounts the Lessor was entitled to invoice to the Lessee under the present, then the Lessor will refund to the Lessee the costs incurred by the latter for the preparation of this detailed report as well as any overpayments made by the Lessee and these overpayments may be deducted by the Lessee from future rent payments.
Actual Operating Costs. The determination of Operating Costs Allocable to the Premises shall be made by Landlord. Within ninety (90) calendar days after the close of each Year, Landlord shall deliver to Tenant a written statement setting forth the actual Operating Costs Allocable to the Premises during the preceding Year. If such actual Operating Costs Allocable to the Premises for any Year exceed the Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subparagraph 3.4.1 for such Year, Tenant shall pay the amount of such excess to Landlord within twenty (20) Business Days after receipt of such statement by Tenant. If such statement shows the actual Operating Costs Allocable to the Premises to be less than the Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subparagraph 3.4.1, then the amount of such overpayment shall be paid by Landlord to Tenant within twenty (20) Business Days following the date of such statement or, at Landlord’s option other than during the last Lease Year, shall be credited towards the installment(s) of Additional Rent next coming due from Tenant.
Actual Operating Costs. For purposes of this Agreement, "Actual ---------------------- Operating Costs" means all costs or expenses reasonably and actually incurred by Xxxxxx in the conduct of the Business during 1998 or by Xxxxxxx, Xxxxx in connection with Maggie's operations during 1998, including, without limitation, costs or expenses related to the day-to-day upkeep, normal maintenance, insurance and taxes for the Site, but excluding extraordinary repairs or replacement to the walls or structural components of the improvements on the Site, plus any and all costs and expenses, including any employment bonuses, paid by Xxxxxxx, Xxxxx to or on behalf of the Operations Manager in connection with his employment. B.
