Actual Operating Expenses. Within one hundred twenty (120) days after the end of each calendar year, Landlord shall submit a reasonably detailed statement to Tenant showing the actual Operating Expenses for such calendar year and Tenant's Proportionate Share of the amount by which such Operating Expenses exceed the Operating Expenses during the Base Year; provided that failure by Landlord to deliver such statement within the time specified above shall not relieve Tenant of any of its obligations hereunder. If for any calendar year, Tenant's estimated monthly payments exceed Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant's next monthly payments of estimated Operating Expenses. If for any calendar year Tenant's estimated monthly payments are less than Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Operating Expenses shall survive the expiration or earlier termination of this Lease.
Actual Operating Expenses. Within ninety (90) days after the close of each Operating Year (including the Base Year) during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Expenses during the preceding Operating Year and the amount by which such Actual Operating Expenses exceed the Base Amount (the“Operating Expense Increase”). If Tenant’s Proportionate Share of the Operating Expense Increase for any Operating Year exceeds the Estimated Operating Expenses paid by Tenant to Landlord pursuant to Section 4(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 Tenant’s Proportionate Share of the Operating Expense Increase to be less than the amount paid by Tenant to Landlord pursuant to Section 4(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, at Landlord’s option, credited by Landlord to the payment of rent next due. Additionally, promptly following the reassessment of the value of the Project by any such governmental authority subsequent to the leasing and occupancy of a substantial portion of the Project, Landlord shall provide Tenant with a written statement reflecting the adjusted Actual Operating Expenses for the Base Year. If, as a result of Landlord’s recalculation of the Actual Operating Expenses for the Base Year Landlord determines that the amount paid by Tenant pursuant to this Section 4 for any Operating Year was less than the amount owed by Tenant for such Operating Year, Tenant shall pay to Landlord the amount of such shortfall within thirty (30) days after the date of Tenant’s receipt of such statement, and if, as a result of Landlord’s recalculation of the Actual Operating Expenses for the Base Year Landlord determines that amounts paid by Tenant pursuant to this Section 4 for any Operating Year exceeded the amount owed by Tenant for such Operating Year, then the amount of such overpayment shall be paid by Landlord to Tenant within thirty (30) days following the date of such statement or, at Landlord’s option, credited by Landlord to the payment of rent next due. Prior to the date that is one (1)year after Tenant’s receipt of Landlord’s statement of Actual Operating Expenses for any Operating Year, Landlord shall provide Tenant with reasonable access, upon reasonable prior notice and during normal business hours, to in...
Actual Operating Expenses. Landlord shall within a period of ninety (90) days after the close of each calendar year, notify Tenant by written itemized statement (“Notice of Comparison”) of (i) the total amount Landlord actually paid or incurred (depending upon whether Landlord utilizes an accrual or cash basis accounting system) as the Operating Expenses during the calendar year covered by the Notice of Comparison (“Actual Operating Expenses”); and (ii) the difference, if any, between the Actual Operating Expense and the Estimated Operating Expenses payable by Tenant (“Additional Rent Adjustment”).
Actual Operating Expenses. Borrower shall furnish or cause to be furnished to Lender, within thirty (30) days after the end of each calendar month, a report (accompanied by an Officer’s Certificate stating that such items are true, correct and complete in all material respects) reconciling (a) the actual operating expenses paid in cash or incurred by or on behalf of Borrower with respect to the Property during such calendar month (the “Actual OpEx”) with (b) the operating expenses set forth in the Approved Annual Budget for such calendar month (the “Budgeted OpEx”). If the Budgeted OpEx exceeds the Actual OpEx for any calendar month, the amount of such excess shall be known as the “OpEx Overpayment Amount”.
Actual Operating Expenses. Within one hundred eighty (180) days after the end of each calendar year, Landlord shall submit a statement to Tenant showing the actual Operating Expenses for such calendar year and Tenant's Proportionate Share of the amount by which such Operating Expenses exceed the Operating Expenses during the Base Year. If for any calendar year, Tenant's estimated monthly payments exceed Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant's next monthly payments of estimated Operating Expenses. If for any calendar year Tenant's estimated monthly payments are less than Tenant's Proportionate Share of the amount by which the actual Operating Expenses for such calendar year exceed the Operating Expenses during the Base Year, then Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Operating Expenses shall survive the expiration or earlier termination of this Lease.
Actual Operating Expenses. 17 7.6 Tenant's Right to Audit .......................... 17
Actual Operating Expenses. Landlord shall deliver to Tenant as soon as available following the end of each calendar year, but in no event later than ninety (90) days following year-end, a reconciliation statement (the “Statement”) of the actual Operating Expenses incurred or accrued for the preceding calendar year, and Txxxxx’s Share thereof, with the Estimated Amount previously paid by Tenant pursuant to Section 3.2.1.1 for such preceding calendar year. Within thirty (30) days after Txxxxx receives the Statement for each Expense Year, Tenant shall pay any underpayment of Tenant’s Share of Operating Expenses shown by the Statement. If there is an overpayment of Tenant’s Share of the Operating Expenses set forth on the Statement, the amount of such overpayment shall be credited against payments of Tenant’s Share of the estimated Operating Expenses as they become due for the then current calendar year (or, if such overpayment occurs for the last calendar year of the Lease Term, such overpayment amount shall be paid by Landlord to Tenant within thirty (30) days of Landlord’s delivery to Tenant of the Statement). Lxxxxxxx’s failure to provide Tenant with a Statement for a particular calendar year within 18 months after the end of such calendar year shall constitute a waiver of Landlord’s right to collect any Operating Expenses in addition to those already collected by Landlord except for any additional expenses levied by any governmental authority or by any public utility companies (including, without limitation, as a result of any new or supplemental tax bills issued by the applicable taxing authority) after such 18-month period but attributable to such calendar year.
Actual Operating Expenses. Within ninety (90) days after the end of each Calendar Year or as soon thereafter as reasonably practicable, Landlord shall submit a statement to Tenant showing the actual Operating Expenses for such Calendar Year and the amount of Tenant's Proportionate Share of such actual Operating Expenses. If, for any Calendar Year, Tenant's estimated payments exceeded Tenant's Proportionate Share of actual Operating Expenses, Tenant shall receive a credit in the amount of the overpayment toward Tenant's next monthly payments of Operating Expenses. If, for any Calendar Year, Tenant's estimated monthly payments were less than Tenant's Proportionate Share of actual Operating Expenses, then Tenant shall pay the total amount of such deficiency to Landlord within thirty (30) days after receipt of the statement from Landlord. Landlord's and Tenant's obligations with respect to any overpayment or underpayment of Tenant's Proportionate Share of Operating Expenses shall survive the expiration or termination of this Lease.
Actual Operating Expenses. Within ninety (90) days of the end of each year after the Base Year Landlord shall deliver to Tenant a statement setting forth the actual operating expenses allocated to the Demised Premises during such preceding Year. If such Actual Costs are greater than the amount paid by Tenant then Tenant shall pay such excess to Landlord in a lump sum as Additional Rent within thirty (30) days from receipt of such statement provided that in no event shall the amount paid by Tenant for Operating Expenses for said Year increase by an amount greater that ten percent (10%) of the previous Year. If such Actual Costs are less than the amount paid by Tenant then the amount of such overage shall be credited by Landlord to the next payment of Rent due hereunder.
Actual Operating Expenses. Within ninety (90) days after the close of each Operating Year (except the Base Year) during the Term, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Expenses and actual Operating Expenses Increase during the preceding Operating Year. If such actual Operating Expenses Increase for any Operating Year exceed the estimated amount theretofore paid by Tenant to Landlord on account thereof pursuant to Section 4(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 the actual Operating Expenses Increase to be less than the estimated amount theretofore paid by Tenant to Landlord on account thereof pursuant to Section 4(a), then the amount of such overpayment by Tenant shall be paid by Landlord to Tenant within thirty (30) days following the date of such statement or, at Landlord’s option, credited by Landlord to the payment of rent next due.
