Common use of Additional Rent for Estimated Increases in Operating Costs Clause in Contracts

Additional Rent for Estimated Increases in Operating Costs. (i) On or before the first (1st) day of March of each Lease Year after the Base Service Year, during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Operating Costs Allocable to the Premises for such Lease Year, and a calculation of the Additional Rent for such costs as follows: one-twelfth (1/12) of the amount, if any, by which such amount exceeds the Operating Costs Allocable to the Premises for the Base Service Year shall be Additional Rent payable each month by Tenant as provided in Section 4. Any shortfall for elapsed portion of the Lease Year in question shall be made up with the next monthly payment. Landlord reserves the right to adjust this estimate from time to time. (ii) Within ninety (90) days after the close of each Lease Year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs Allocable to the Premises during the preceding Lease Year. If such costs for any Lease Year exceed Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subsection (b)(i) above, Tenant shall pay the amount of such excess to Landlord as Additional Rent within fifteen (15) 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 subsection (b)(i) above, then the amount of such overpayment by Tenant shall be credited by Landlord to the next Rent payable by Tenant. In no event shall the Rent payable by Tenant hereunder be less than the Rent specified in Section 1(k) of this Lease. (iii) If this Lease shall terminate on a day other than the last day of a Lease Year, the amount of any adjustment between Estimated and Actual Operating Costs Allocable to the Premises with respect to the Lease Year in which such termination occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including such termination date bears to 365, and any amount payable by Landlord to Tenant or Tenant to Landlord with respect to such adjustment shall be payable within fifteen (15) days after delivery of the statement of Actual Operating Costs Allocable to the Premises with respect to such Lease Year.

Appears in 2 contracts

Samples: Office Lease Agreement (Tut Systems Inc), Office Lease Agreement (Bsquare Corp /Wa)

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Additional Rent for Estimated Increases in Operating Costs. (i) On or before At the first (1st) day of March beginning of each Lease Year after the Base Service Year, during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Operating Costs Allocable to the Premises for such Lease Year, and a calculation of the Additional Rent for such costs as follows: oneOne-twelfth (1/12) of the amount, if any, by which such amount exceeds the Operating Costs Allocable to the Premises for the Base Service Year shall be Additional Rent payable each month by Tenant as provided in Section 4. Any shortfall 4 for elapsed portion of the Lease Year in question shall be made up with the next monthly payment. Landlord reserves the right to adjust this estimate from time to timeeach month during such lease Year. (ii) Within ninety (90) days after the close of each Lease YearYear during the term hereof for which an estimated statement was delivered to Tenant pursuant to subsection (b) (i) above, or as soon thereafter as practicable, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs Allocable to the Premises during the preceding Lease Year or such prorated portion thereof if this Lease commenced or terminated on a day other than the first or last day of a Lease Year (based on a 365 day Lease Year). If such costs for any Lease Year exceed Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subsection (b)(i) aboveb)(I), Tenant shall pay the amount of such excess to Landlord as Additional Rent within fifteen thirty (1530) 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 subsection (b)(i) above), then the amount of such overpayment by Tenant shall be credited by Landlord to the next Rent payable by Tenant. In no event shall the Rent payable by Tenant hereunder be less than the Rent specified in Section 1(k) of this Lease. (iii) If this Lease shall terminate on a day other than the last day of a Lease Year, the amount of any adjustment between Estimated and Actual Operating Costs Allocable to the Premises with respect to the Lease Year in which such termination occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including such termination date bears to 365, and any amount payable by Landlord to Tenant or Tenant to Landlord with respect to such adjustment shall be payable within fifteen (15) days after delivery of the statement of Actual Operating Costs Allocable to the Premises with respect to such Lease Year.

Appears in 1 contract

Samples: Office Lease (Eacceleration Corp)

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Additional Rent for Estimated Increases in Operating Costs. (i) On or before the first (1st) day of March of each Lease Year after the Base Service Year, during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Operating Costs Allocable to the Premises for such Lease Year, and a calculation of the Additional Rent for such costs as follows: one-twelfth 11 (1/12) of the amount, if any, by which such amount exceeds the Operating Costs Allocable to the Premises for the Base Service Year shall be Additional Rent payable each month by Tenant as provided in Section 4. Any shortfall for elapsed portion of the Lease Year in question shall be made up with the next monthly payment. Landlord reserves the right to adjust this estimate from time to time. (ii) Within ninety (90) days after the close of each Lease Year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a written statement setting forth the Actual Operating Costs Allocable to the Premises during the preceding Lease Year. If such costs for any Lease Year exceed Estimated Operating Costs Allocable to the Premises paid by Tenant to Landlord pursuant to subsection (b)(i) above, Tenant shall pay the amount of such excess to Landlord as Additional Rent within fifteen (15) 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 subsection (b)(i) above, then the amount of such overpayment by Tenant shall be credited by Landlord to the next Rent payable by Tenant. In no event shall the Rent payable by Tenant hereunder be less than the Rent specified in Section 1(k1(j) of this Lease. (iii) If this Lease shall terminate on a day other than the last day of a Lease Year, the amount of any adjustment between Estimated and Actual Operating Costs Allocable to the Premises with respect to the Lease Year in which such termination occurs shall be prorated on the basis which the number of days from the commencement of such Lease Year to and including such termination date bears to 365, and any amount payable by Landlord to Tenant or Tenant to Landlord with respect to such adjustment shall be payable within fifteen (15) days after delivery of the statement of Actual Operating Costs Allocable to the Premises with respect to such Lease Year.

Appears in 1 contract

Samples: Lease Addendum (Bsquare Corp /Wa)

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