Common use of ADDITIONAL RENT - OPERATING EXPENSE PASS THROUGHS Clause in Contracts

ADDITIONAL RENT - OPERATING EXPENSE PASS THROUGHS. For the calendar year commencing on January 1, 2008 and for each calendar year thereafter, Tenant shall pay to Landlord, as Additional Rent, Tenant’s Proportionate Share of any increase in Operating Expenses (as hereinafter defined) incurred by Landlord’s operation or maintenance of the Building dining such calendar year above the Operating Expenses Landlord incurred during the Base Year (as hereinafter defined), but in no event shall the increase be more than 5% in any one calendar year. For purposes of calculating Tenant’s Proportionate Share of real and personal property taxes, Landlord shall use the Base Year or the year in which the Building and improvements are completed and are fully assessed, whichever shall be later. Tenant’s Proportionate Share shall be determined pursuant to Section 2b of the Lease. For the calendar year commencing on January 1, 2008 and for each calendar year thereafter during the Term, Landlord shall estimate the amount the Operating Expenses shall increase for such calendar year above the Operating Expenses incurred during the Base Year. Landlord shall send to Tenant a written statement of the amount of Tenant’s Proportionate Share of any estimated increase in Operating Expenses and Tenant shall pay to Landlord, monthly or annually, at Landlord’s option, Tenant’s Proportionate Share of such increase in Operating Expenses. Within ninety (90) days after the end of each calendar year or as soon as possible thereafter, Landlord shall send a copy of the Annual Statement to Tenant. Pursuant to the Annual Statement, Tenant shall pay to Landlord Additional Rent as owed or Landlord shall adjust Tenant’s Rent payments if Landlord owes Tenant a credit. After the Expiration Date, Landlord shall send Tenant the final Annual Statement for the Term, and Tenant shall pay to Landlord Additional Rent as owed or if Landlord owes Tenant a credit, then Landlord shall pay Tenant a refund. If there is a decrease in Operating Expenses in any subsequent year below Operating Expenses for the Base Year then no additional rent shall be due on account of Operating Expenses, but Tenant shall not be entitled to any credit, refund or other payment that would reduce the amount of other additional rent or Base Rent owed. If this Lease expires or terminates on a day other than December 31, then Additional Rent shall be prorated on a 365 day calendar year (or 366 if a leap year). All payments or adjustments for Additional Rent shall be made within thirty (30) days after the applicable Annual Statement is sent to Tenant.

Appears in 3 contracts

Samples: Office Lease (Medquist Inc), Office Lease (CBaySystems Holdings LTD), Office Lease (CBaySystems Holdings LTD)

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ADDITIONAL RENT - OPERATING EXPENSE PASS THROUGHS. For the calendar year commencing on January 1, 2008 2005 and for each calendar year thereafter, Tenant shall pay to Landlord, as Additional Rent, Tenant’s Proportionate Share of any increase in Operating Expenses (as hereinafter defined) incurred by Landlord’s operation or maintenance of the Building dining such calendar year above the Operating Expenses Landlord incurred during the Base Year (as hereinafter defined), but in no event shall the increase be more than 5% in any one calendar year. For purposes of calculating Tenant’s Proportionate Share of real and personal property taxes, Landlord shall use the Base Year or the year in which the Building and improvements are completed and are fully assessed, whichever shall be later. Tenant’s Proportionate Share shall be determined pursuant to Section 2b calculated by dividing the approximately 5,328 rentable square feet of the LeasePremises by the approximately 50,697 net rentable square feet of the Building, which equals 10.51%. If during any calendar year the occupancy of the rentable area of the Building is less than 95% full, then Operating Expenses (as hereinafter defined) will be adjusted for such calendar year at a rate of 95% occupancy. For the calendar year commencing on January 1, 2008 2005 and for each calendar year thereafter during the Term, Landlord shall estimate the amount the Operating Expenses shall increase for such calendar year above the Operating Expenses incurred during the Base Year. Landlord shall send to Tenant a written statement of the amount of Tenant’s Proportionate Share of any estimated increase in Operating Expenses and Tenant shall pay to Landlord, monthly or annually, at Landlord’s option, Tenant’s Proportionate Share of such increase in Operating Expenses. Within ninety (90) days after the end of each calendar year or as soon as possible thereafter, Landlord shall send a copy of the Annual Statement to Tenant. Pursuant to the Annual Statement, Tenant shall pay to Landlord Additional Rent as owed or Landlord shall adjust Tenant’s Rent payments if Landlord owes Tenant a credit. After the Expiration Date, Landlord shall send Tenant the final Annual Statement for the Term, and Tenant shall pay to Landlord Additional Rent as owed or if Landlord owes Tenant a credit, then Landlord shall pay Tenant a refund. If there is a decrease in Operating Expenses in any subsequent year below Operating Expenses for the Base Year then no additional rent shall be due on account of Operating Expenses, but Tenant shall not be entitled to any credit, refund or other payment that would reduce the amount of other additional rent or Base Rent owed. If this Lease expires or terminates on a day other than December 31, then Additional Rent shall be prorated on a 365 365-day calendar year (or 366 if a leap year). All payments or adjustments for Additional Rent shall be made within thirty (30) days after the applicable Annual Statement is sent to Tenant.

Appears in 1 contract

Samples: Commencement Agreement (Accentia Biopharmaceuticals Inc)

ADDITIONAL RENT - OPERATING EXPENSE PASS THROUGHS. The provisions of this Lease Addendum Number Three shall apply only to the Extension Premises during the Extended Term, and shall not apply as to Suite 870, which shall continue to be governed by the provisions of the Lease in effect as of the date of this Third Amendment. For the calendar year commencing on January JANUARY 1, 2008 2006, and for each calendar year thereafter, Tenant Assignee shall pay to Landlord, as Additional Rent, Tenant’s Assignee's Proportionate Share of any increase in Operating Expenses (as hereinafter defined) incurred by Landlord’s 's operation or maintenance of the Building dining such calendar year above the Operating Expenses Landlord incurred during the Base Year (as hereinafter defined), but in no event shall the increase be more than 5% in any one calendar year. For purposes of calculating Tenant’s Assignee's Proportionate Share of real and personal property taxes, Landlord shall use the Base Year or the year in which the Building and improvements are completed and are fully assessed, whichever shall be later2005. Tenant’s Assignee's Proportionate Share shall be determined pursuant to Section 2b calculated by dividing the approximately 18,451 rentable square feet of the LeaseExtension Premises by the approximately 182,214 net rentable square feet of the Building, which equals 10.13%. If during any calendar year the occupancy of the rentable area of the Building is less than 95% full, then Operating Expenses (as hereinafter defined) will be adjusted for such calendar year at a rate of 95% occupancy. Assignee's annual increase in its prorata share of Controllable Operating Expenses shall not exceed three percent (3%) of the prior year actual Controllable Operating Expense. Controllable Operating Expenses shall specifically exclude real estate taxes, assessments, insurance, utilities, and events of force majeure. For the calendar year commencing on January JANUARY 1, 2008 2006, and for each calendar year thereafter during the Term, Landlord shall estimate the amount the Operating Expenses shall increase for such calendar year above the Operating Expenses incurred during the Base Year. Landlord shall send to Tenant Assignee a written statement of the amount of Tenant’s Assignee's Proportionate Share of any estimated increase in Operating Expenses and Tenant Assignee shall pay to Landlord, monthly or annually, at Landlord’s option, Tenant’s Assignee's Proportionate Share of such increase in Operating Expenses. Within ninety (90) days after the end of each calendar year or as soon as possible thereafter, Landlord shall send a copy of the Annual Statement to TenantAssignee. Pursuant to the Annual Statement, Tenant Assignee shall pay to Landlord Additional Rent as owed or Landlord shall adjust Tenant’s Assignee's Rent payments if Landlord owes Tenant Assignee a credit. After the Extension Expiration Date, Landlord shall send Tenant Assignee the final Annual Statement for the Term, and Tenant Assignee shall pay to Landlord Additional Rent as owed or if Landlord owes Tenant Assignee a credit, then Landlord shall pay Tenant Assignee a refund. If there is a decrease in Operating Expenses in any subsequent year below Operating Expenses for the Base Year then no additional rent shall be due on account of Operating Expenses, but Tenant Assignee shall not be entitled to any credit, refund or other payment that would reduce the amount of other additional rent or Base Rent owed. If this Lease expires or terminates on a day other than December 31, then Additional Rent shall be prorated on a 365 365-day calendar year (or 366 if a leap year). All payments or adjustments for Additional Rent shall be made within thirty (30) days after the applicable Annual Statement is sent to TenantAssignee.

Appears in 1 contract

Samples: Lease Agreement (Compbenefits Corp)

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ADDITIONAL RENT - OPERATING EXPENSE PASS THROUGHS. For the calendar year commencing on January 1, 2008 and for each calendar year thereafter, Tenant shall agrees to pay to Landlord, as Additional Rentadditional rent, each year after the first complete twelve (12) month period of occupancy ("Base Year"), in a lump sum, Tenant’s Proportionate Share 's proportionate share of any increase in Operating Expenses (as hereinafter defined) direct expenses incurred by Landlord’s on account of the operation or maintenance of the Building dining such calendar year above the Operating Expenses Landlord incurred during the Base Year (as hereinafter defined), but in no event shall the increase be more than 5% in any one calendar year. For purposes of calculating Tenant’s Proportionate Share of real and personal property taxes, Landlord shall use the Base Year or the year building in which the Building and improvements Demised Premises are completed and are fully assessedsituated, whichever shall be later. Tenant’s Proportionate Share shall be determined pursuant to Section 2b of the Lease. For the calendar year commencing on January 1, 2008 and above such direct expense paid or incurred by Landlord for each calendar year thereafter during the Term, Landlord shall estimate the amount the Operating Expenses shall increase for such calendar year above the Operating Expenses incurred during the Base Year. Commencing with the first month of the second lease year, and each lease year thereafter, there shall be added to Tenant's monthly payments an amount to cover Tenant's pro rata share of operational pass throughs as estimated by Landlord to have increased during the previous year, which figure (so estimated by Landlord) shall be paid by Tenant until such time as actual figures are available (after the end of the second and successive years), when the monthly increment for pass throughs shall be adjusted to reflect the prior year's experience. Landlord shall send to Tenant Tenant, in writing, a written statement of the amount of Tenant’s Proportionate Share of any estimated increase in Operating Expenses additional rent plus any applicable sales or use taxes payable by Tenant hereunder on or before one hundred and Tenant shall pay to Landlord, monthly or annually, at Landlord’s option, Tenant’s Proportionate Share of such increase in Operating Expenses. Within ninety twenty (90120) days after the end of each calendar the lease year or as soon as possible thereafter, Landlord shall send a copy of with respect to which the Annual Statement to Tenant. Pursuant to the Annual Statement, Tenant shall pay to Landlord Additional Rent as owed or Landlord shall adjust Tenant’s Rent payments if Landlord owes Tenant a credit. After the Expiration Date, Landlord shall send Tenant the final Annual Statement for the Termrent adjustment is due, and Tenant shall pay to Landlord Additional Rent as owed or if Landlord owes Tenant a credit, then Landlord shall pay Tenant a refund. If there is a decrease in Operating Expenses in any subsequent year below Operating Expenses for the Base Year then no additional rent shall be due on account of Operating Expenses, but Tenant shall not be entitled to any credit, refund or other payment that would reduce the amount of other additional rent or Base Rent owed. If this Lease expires or terminates on a day other than December 31, then Additional Rent shall be prorated on a 365 day calendar year (or 366 if a leap year). All payments or adjustments for Additional Rent shall be made within thirty (30) days thereafter Tenant shall pay any additional rent shown to be due Landlord, or Landlord shall adjust Tenant's payments if any credit is shown to be due Tenant. Tenant shall remain liable after the applicable Annual Statement is sent end of the term for any amount of operational pass throughs for the final year if such exceeded Tenant's payments for the pass throughs and Tenant shall be entitled to a refund if such payments exceeded Tenant's payments for the pass throughs and Tenant shall be entitled to a refund if such payments exceeded the pass throughs. Tenant's proportionate share shall be calculated by dividing the 5,938 rentable square feet of the Demised Premises by the 94.461 rentable square feet of the building, which equals 6.29%.

Appears in 1 contract

Samples: Lease Agreement (Pozen Inc /Nc)

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