Common use of Additional Rent Estimates and Adjustments Clause in Contracts

Additional Rent Estimates and Adjustments. (a) Initial Additional Rent Adjustments. Landlord at its option may submit ------------------------------------ to Tenant prior to the date set forth in Section 1.5 a statement of Landlord's reasonable estimate of the increases described in Sections 2.2(a) and (b) above, together with the amount of Tenant's Additional Rent which is estimated to result from such increases, in which event Tenant shall pay such estimated Additional Rent to Landlord in equal monthly installments beginning on the date set forth in Section 1.5, on the dates and in the manner required for the payment of Tenant's monthly installments of Base Annual Rent. In the alternative, as soon as practicable after the end of the calendar year in which Tenant's obligation to pay Additional Rent pursuant to Sections 2.2(a) and (b) commences, Landlord may submit a lump sum statement to Tenant of the actual increases in Real Estate Taxes and/or Operating Expenses, if any, which were paid during the Fiscal Year which ended during such calendar year over the Real Estate Taxes and Operating Expenses which were paid during the Base Year, all as prorated based upon that portion of the Fiscal Year falling within the initial partial year of the Lease Term, and Tenant shall pay its pro rata share as Additional Rent on the date and in the manner required for the next monthly installment of Base Annual Rent due after submission of Landlord's statement.

Additional Rent Estimates and Adjustments. (ai) Initial In order to provide for current monthly payments of Additional Rent Adjustments. Rent, Landlord at its option may shall submit ------------------------------------ to Tenant prior to the date set forth in Section 1.5 January 1st of each year a written statement of Landlord's reasonable ’s estimate of the amount of the increases described in Sections 2.2(a4(c)(ii) and (b4(c)(iii) above, together with the amount of Tenant's ’s Additional Rent which is estimated to result from such increases, in which event . Tenant shall pay such estimated Additional Rent to Landlord in equal monthly installments beginning on the date set forth in Section 1.5, on the dates and in the manner required for the payment each month one-twelfth (1/12th) of Tenant's monthly installments ’s Proportionate Share of Base Annual Rent. In the alternative, as soon as practicable after the end Landlord’s estimate of the calendar increase in each year in which Tenant's obligation to pay Additional Rent pursuant to Sections 2.2(aof (i) Operating Expenses over the Base Operating Expense Amount, and (bii) commences, Landlord may submit a lump sum statement to Tenant of the actual increases in Real Estate Taxes and/or Operating Expenses, if any, which were paid during the Fiscal Year which ended during such calendar year over the Base Real Estate Tax Amount. Landlord may revise its estimate of Operating Expenses and/or Real Estate Taxes at any time during a calendar year by written notice to Tenant, setting forth such revised estimate and Operating Expenses Tenant’s Proportionate Share of the estimated operating expense and/or real estate tax increases, which were paid during revised estimate shall not be issued more frequently than once each calendar year and shall provide reasonable justification for the Base Yearneed for an out-of-cycle adjustment. In such event, all as prorated based upon monthly payments made by Tenant after such notice shall be in an amount calculated on the basis of such revised estimate, provided, however that portion the first such monthly installment payable by Tenant following Tenant’s receipt of a revised estimate pursuant to this sentence shall be due and payable on the later of the Fiscal Year falling within the initial partial year first day of the Lease Term, and Tenant shall pay its pro rata share as Additional Rent on month after the date of Tenant’s receipt of such notice and in the manner required for date that is thirty (30) days following the next monthly installment date of Base Annual Rent due after submission Tenant’s receipt of Landlord's statementsuch notice.

Additional Rent Estimates and Adjustments. (ai) Initial Additional Rent AdjustmentsWithin sixty (60) days after the date of this Lease, Landlord shall deliver to Tenant an estimated budget of the operating expenses for the first Lease Year of the Lease Term. Landlord and Tenant shall meet at its option may a mutually agreeable time to discuss the budget and Landlord shall, in good faith, consider all of Tenant's requested changes to the budget. Thereafter, in order to provide for current monthly payments of Additional Rent, Landlord shall (x) submit ------------------------------------ to Tenant a "Proposed Budget" (as defined below) on an annual basis, and (y) submit to Tenant prior to the date set forth in Section 1.5 January 1st of each year a written statement of Landlord's reasonable estimate of the increases amount described in Sections 2.2(a) and (bSection 4(c)(ii) above, together with the amount of Tenant's Additional Rent which is estimated to result from such increases, in which event herefrom. Tenant shall pay such estimated Additional Rent to Landlord in equal monthly installments beginning on the date set forth in Section 1.5, on the dates and in the manner required for the payment each month one-twelfth (1/12th) of Tenant's monthly installments Proportionate Share of Base Annual Rent. In the alternative, as soon as practicable after the end Landlord's estimate of the calendar year in which Tenant's obligation to pay Additional Rent operating expenses pursuant to Sections 2.2(aSection 4(d)(ii). Landlord's annual estimate of increases in operating expenses shall not exceed one hundred ten percent (110%) and (b) commences, Landlord may submit a lump sum statement to Tenant of the actual increases in Real Estate Taxes and/or Operating Expenses, if any, which operating expenses that were paid incurred for the Building during the Fiscal Year which ended during such prior calendar year over unless Landlord provides Tenant with reasonable evidence which would reasonably justify such increase. Landlord may revise its estimate of operating expenses at any time during a calendar year by written notice to Tenant, setting forth such revised estimate and Tenant's Proportionate Share of the Real Estate Taxes and Operating Expenses which were paid during the Base Yearestimated operating expenses. In such event, all as prorated based upon that portion of the Fiscal Year falling within the initial partial year of the Lease Term, and monthly payments made by Tenant after such notice shall pay its pro rata share as Additional Rent be in an amount calculated on the date and in the manner required for the next monthly installment basis of Base Annual Rent due after submission of Landlord's statementsuch revised estimate.

Additional Rent Estimates and Adjustments. (ai) Initial In order to provide for current monthly payments of Additional Rent Adjustments. Rent, Landlord at its option may shall submit ------------------------------------ to Tenant prior to the date set forth in Section 1.5 Rent Commencement Date and thereafter before the beginning of each calendar year a written statement of Landlord's reasonable ’s estimate of the increases described increase in Sections 2.2(a) Basic Operating Charges for such calendar year over the Base Operating Expense Amount and (b) above, together with the amount of Tenant's Additional Increase Charges (the "Estimate Statement"). The Estimate Statement shall be in a form substantially similar to the form of the statement attached hereto as Exhibit O. Beginning on the later to occur of (i) the first anniversary of the Rent Commencement Date and (ii) thirty (30) days after Tenant's receipt of the initial Estimate Statement, Tenant shall pay each month one-twelfth (1/12th) of Landlord’s reasonable estimate of Tenant's Increase Charges. To the extent that the Estimate Statement shows an increase in Basic Operating Charges of more than four percent (4%) of the actual amount of Basic Operating Charges for the prior calendar year, then upon receipt of written request from Tenant, Landlord shall promptly provide Tenant with a written explanation for the estimated increase in Basic Operating Charges in excess of four percent (4%). Landlord may revise its Estimate Statement at any time during a calendar year [but not more often than one (1) time per calendar year] by written notice to Tenant, setting forth such revised estimate of the increase in Basic Operating Charges for such calendar year over the Base Operating Expense Amount, the amount of Tenant's Increase Charges and a reasonably detailed explanation for such revised estimate. In such event, all monthly payments due from Tenant beginning after the date which is estimated thirty (30) days after receipt of such revised Estimate Statement shall be in an amount calculated on the basis of such revised estimate. Tenant shall, in all cases, continue to result make monthly payments of Basic Operating Charges based on the last estimate received from such increases, Landlord until it receives a revised or updated estimate in which event Tenant shall pay such estimated Additional Rent to Landlord make monthly payments in equal monthly installments beginning on accordance with the date set forth in Section 1.5, on the dates and in the manner required for the payment terms of Tenant's monthly installments of Base Annual Rent. In the alternative, as soon as practicable after the end of the calendar year in which Tenant's obligation to pay Additional Rent pursuant to Sections 2.2(a) and (b) commences, Landlord may submit a lump sum statement to Tenant of the actual increases in Real Estate Taxes and/or Operating Expenses, if any, which were paid during the Fiscal Year which ended during such calendar year over the Real Estate Taxes and Operating Expenses which were paid during the Base Year, all as prorated based upon that portion of the Fiscal Year falling within the initial partial year of the Lease Term, and Tenant shall pay its pro rata share as Additional Rent on the date and in the manner required for the next monthly installment of Base Annual Rent due after submission of Landlord's statementthis paragraph.