Common use of Additional Rental Clause in Contracts

Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7.

Appears in 1 contract

Samples: Lease Agreement (Webmd Inc)

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Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses (as hereinafter defineda.) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph escalation after occupancy shall be determined, and paid in accordance with the following procedurescalculated as follows: (i) During each December The increase calculated on a per square foot basis where the actual operating expenses in any lease year exceeds the base operating expense of the Lease Termbase year which, or for the purpose herein shall be 2006. A Schedule of which is attached as soon thereafter Exhibit “D” and incorporated herein for all purposes. NO SCHEDULE AVAILABLE. (ii) The rental escalation shall be the Lessee’s proportionate share of the increase of the actual operating expense in any lease year over the base operating expense factor. (iii) Lessor has the option to collect additional income based on an operating budget any year after the base year. This collection shall be made on a monthly basis. Lessor shall, within six months following the close of any calendar year for which additional rental is due, provide actual costs to Lessee along with a statement of Lessee’s share of such actual costs. (b.) Lessee agrees to pay as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for its pro-rata share of all Operating Expenses of the ensuing calendar Building over the base year, plus a management fee which is 15 of said expenses, as defined herein below. On or before Lessor shall have the right to estimate the amount of such Operating Expenses, which will be incurred with respect to each Lease Year hereunder, and to estimate Lessee’s pro-rata share thereof. Lessee shall pay to Lessor monthly, on the first day of each month, in advance for each month during in the ensuing term of this lease, beginning on January 1st of the first calendar yearyear after the Commencement Date of the lease, Tenant shall pay an amount equal to Landlord onethe amount estimated by Lessor to be Lessee’s pro-twelfth rata share of the actual operating Expenses for such Lease Year, divided by the number of months n such Lease Year. If Lessee’s pro-rata share of the actual Operating Expenses with respect to any Lease Year (1/12as determined at the end of the Lease Year) is less than the amount paid by Lessee as its pro-rata share of the estimated Operating expense for such estimated amounts together with the Base RentalLease Year a “effect ease Year”) then, provided that if such notice Lessee is not given then in Decemberdefault in the performance obligations under this lease, Tenant Lessor shall continue issue credit to pay such Additional Rental during lessee the ensuing calendar year on amount by which the basis amounts paid by Lessee as Lessee’s )pro rata share of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share estimated Operating Expenses exceeds Lessee’s pro-rata share of the actual increase Operating Expenses for the Dec lease Year promptly following the determination of such actual Operating Expenses; provided, however, in no event shall Lessee ever be entitled to a refund in respect to any Lease Year in excess )f the Additional Rental payments made under this Paragraph 5(c) in respect to such Lease Year. If the Lessee’s pro-rata share of the actual Operating Expenses with respect to any Lease Year exceeds :he amount paid by Lessee to Lessor as Lessee’s pro-rata share of estimated Operating Expenses for such calendar year is an Lease Year, then Lessee shall ay to Lessor the amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit of such excess to the next payments within ten (10) days allowing receipt of Additional Rental coming due. If on the basis notice from Lessor setting forth Lessee’s pro -at share of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for with respect to such calendar year is an amount greater that Lease Pear and the estimated payments actually made payment due by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statementLessee. (iiic.) If this Lease Base Year 2006 shall commencebe calculated individually for four expense categories, expire or terminate on a day as defined in paragraph 5(d), as; (1) property axes; (2) property insurance; (3) utilities and (4) all other than operating expense categories. In the last day of a calendar event that any one expense decreases below such expense amount in any prior year, no offset shall be made to other expenses that may have increased in such ear. After the amount of Additional Rental payable during the first or final calendar initial year of the Lease Term, as the case may be, shall be prorated Lessee agrees to have he annual rent increased based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7an operating budget pro-forma.

Appears in 1 contract

Samples: Lease Agreement (Vemics, Inc.)

Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of (a) Commencing with the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot in which the Commencement Date occurs and continuing thereafter for each calendar year during the full term of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicableLease, Landlord shall give present to Tenant written notice prior to the beginning of its estimate said calendar year (or for the calendar year in which the Lease term commences, on the Commencement Date) a statement of Tenant’s Forecast Additional Rental. Landlord’s failure to deliver such a statement of Tenant’s Forecast Additional Rental payable shall not operate to excuse Tenant from the payment of the monthly installment of Tenant’s Forecast Additional Rental due under this Article 7 for the ensuing calendar yearSection 2.01(a). On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in DecemberRather, Tenant shall continue to pay such the monthly installment of Tenant’s Forecast Additional Rental during based on Landlord’s most recent calculation thereof until such a statement is delivered to Tenant, with such statement being applied retroactively to the ensuing calendar year on the basis beginning of the amounts payable during the calendar year just endedand Tenant making up any under payments immediately upon its receipt of such statement. Landlord may, until from time to time, but not more than two (2) times per year, recalculate Tenant’s Forecast Additional Rental in order to more accurately reflect Landlord’s good faith estimate of Tenant’s Additional Rental, and Tenant shall commence paying the month recalculated Tenant’s Forecast Additional Rental, in accordance with Section 2.01(a) hereof, immediately after such receiving notice is giventhereof. (iib) As soon as practicable after used herein, “Tenant’s Forecast Additional Rental” shall mean Landlord’s reasonable estimate of Tenant’s Additional Rental (defined below) for the close of each coming calendar year during the Lease Term(or, Landlord shall deliver to Tenant a statement of the adjustments to be made for in the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on in which the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant lease term commences, for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement). (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7.

Appears in 1 contract

Samples: Sublease Agreement (Cumberland Pharmaceuticals Inc)

Additional Rental. In addition to Monthly Rental, Tenant shall paypay to Landlord, as Additional Rental,” all sums required to be paid by Tenant to Landlord pursuant to this Lease including, Tenant's ----------------- Percentage Share of the amountbut not limited to, if any, by which Operating Expenses (as hereinafter defined) defined below), interest and late charges. All payment obligations of Tenant under this Lease are deemed rent and Landlord shall have the same rights and remedies for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot the nonpayment of such rent, including Additional Rental, as it has with respect to the nonpayment of Monthly Rental. Except to the extent otherwise provided in this Lease, Tenant is solely responsible for all costs for the care, maintenance, taxes, insurance, utilities, repair and operating expenses of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures:Premises. (ia) During each December Tenant shall pay monthly installments of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before Operating Expenses on the first day of each month during month, in amounts specified in good faith by Landlord from time to time, which, by the ensuing end of each calendar year (or by the Expiration Date, if earlier), will total Landlord’s reasonable estimate of Operating Expenses to be incurred for such year. For partial years, the Operating Expenses will be calculated on a full-year basis and then prorated. If at any time Landlord incurs an unanticipated Operating Expense (or any other expense to be borne by Tenant under this Lease), Landlord may invoice Tenant for reimbursement of such expense any time after the expense is incurred, in which case Tenant shall pay to the amount so invoiced within 30 days after Landlord one-twelfth (1/12) of such estimated amounts together with delivers the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) invoice. As soon as is reasonably practicable after the close end of each calendar year during the Lease Termwhich Tenant paid Operating Expenses based on Landlord’s estimates as provided above, Landlord shall deliver to will furnish Tenant a reasonably detailed statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount (the “Statement”). Any amounts owing for that is less than the estimated payments actually made year shall, within thirty (30) days, be paid by Tenant for such calendar yearto Landlord. Any amounts overpaid shall, Landlord shall credit such excess to at Landlord’s option, be credited against the next payments installment(s) of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in estimated Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by and Monthly Rent due from Tenant, or be refunded to Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery the date of the statement. Statement. The parties’ obligations with respect to payment or refund of any deficiency or overpayment shall survive termination or expiration of this Lease; provided that no Operating Expense payments shall be due from Tenant which are not billed to Tenant within one (iii1) If year after the Expiration Date of this Lease shall commenceLease, expire and provided further that Tenant’s failure to dispute the amount of any Operating Expense or terminate on a day other than the last day reconciliation statement within 180 days after Tenant’s receipt of a reconciliation statement for the applicable calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated deemed Tenant’s waiver to ever make a claim based on Operating Expenses for the actual number of days of the Lease Term during such calendar applicable year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7.

Appears in 1 contract

Samples: Lease (Neurocrine Biosciences Inc)

Additional Rental. Tenant shall pay(a) For purposes of this Lease, as “Tenant’s Forecast Additional Rental, ” shall mean Landlord’s reasonable estimate of Tenant's ----------------- Percentage Share of ’s Additional Rental for the amount, if any, by which Operating Expenses (as hereinafter defined) for any coming calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The or portion thereof If at any time it appears to Landlord that Tenant’s Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with for the following procedures: current calendar year will vary from Landlord’s estimate by more than five percent (i) During each December of the Lease Term, or as soon thereafter as practicable5%), Landlord shall give Tenant written have the right to revise, but not more than once per year (but Landlord shall have the right to reduce such estimate as many times within any year as Landlord chooses), by notice of to Tenant, its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar such year, and subsequent payments by Tenant for such year shall pay be based upon such revised estimate of Tenant’s Additional Rental. Failure to Landlord one-twelfth (1/12) make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord’s right to collect the full amount of such estimated amounts together with Tenant’s Additional Rental. Prior to the Base Rental, provided that if such notice is not given in December, Tenant shall continue Rental Commencement Date and thereafter prior to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall deliver present to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant ’s Forecast Additional Rental for such calendar year, Landlord shall credit provided, however, that if such excess statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next payments of Additional Rental coming due. If ensuing calendar year on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Tenant’s Forecast Additional Rental payable during the first or final calendar year just ended until the month after such statement is delivered to Tenant. (b) For purposes of this Lease, “Tenant’s Additional Rental” shall mean for each calendar year (or portion thereof) the Lease Term, as Operating Expense Amount (defined below) multiplied by the case may be, shall be prorated based on the actual number of days square feet of Rentable Floor Area of Demised Premises (not including Storage Space). As used herein, “Operating Expense Amount” shall mean the Lease Term during such calendar year. The expiration or termination amount by which the sum of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination(x) plus (y) exceeds $[**], pursuant to this Article 7.where:

Appears in 1 contract

Samples: Lease Agreement (Internap Network Services Corp)

Additional Rental. Tenant shall pay, as Section 8 (Additional Rental, Tenant's ----------------- Percentage Share ) of the amountLease is hereby amended to reflect that during the Extension Term and commencing in calendar year 2008, if any, by which Tenant will pay its proportionate share of Tenant’s Additional Rental based on the excess of Landlord’s projected Operating Expenses (as hereinafter defined) in each calendar year over the Base Year Operating Expenses. For purposes of this Second Amendment, the “Base Year” shall mean calendar year 2007. In the event the average occupancy level of the Building or the Project for any calendar year, including the Base Year, is not ninety-five percent (95%) or more of full occupancy, then the Operating Expenses for such year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determinedapportioned among the tenants by the Landlord to reflect those costs which would have occurred had the Building or the Project, and paid in accordance with as applicable, been ninety-five percent (95%) occupied during such year. For each calendar year after the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicableBase Year, Landlord shall give provide Tenant written notice with a comparison of its estimate of Additional Rental payable under this Article 7 the Base Year Operating Expenses and the projected Operating Expenses for the ensuing such current calendar year. On or before the first day of each month during the ensuing calendar year, Tenant Such projected increase in Operating Expenses shall pay to Landlord be payable in advance on a monthly basis by paying one-twelfth (1/121/12th) of such estimated amounts together with the Base Rental, provided that if projected increase during each month of such notice is respective calendar year. If Landlord has not given in Decemberfurnished Tenant such comparison by January 1 of a calendar year, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, prior year’s estimate until the month after such notice comparison is given. (ii. The statement provided by Landlord to Tenant as set forth in Section 8(c) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver set forth such year’s actual Operating Expenses compared to Tenant Base Year Operating Expenses and a statement comparing Tenant’s proportionate share of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase projected increases in Operating Expenses for which Tenant paid throughout such calendar year is an amount that is less with Tenant’s proportionate share of actual Operating Expense increases (the “Final Annual Statement of Operating Expenses”). If Tenant’s proportionate share of increases in actual Operating Expenses are greater than as shown in the statement delivered pursuant to Section 8(c) or greater than the estimated payments amount of Tenant’s Additional Rental actually made paid by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenantpursuant thereto, Tenant shall pay as Additional Rental the deficiency to Landlord Landlord, within thirty (30) days after delivery of the such statement. (iii) ’s receipt, such additional sum owed by Tenant. If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Tenant’s Additional Rental payable during actually paid by Tenant pursuant to Landlord’s estimate of Tenant’s proportionate share of increases in Operating Expenses is greater than Tenant’s share of increases in actual Operating Expenses as shown on the first Final Annual Statement of Operating Expenses, Landlord shall credit Tenant, within thirty (30) days of such statement issuance, such overpaid amount, or final calendar year of if the Lease Termhas expired, as the case may be, shall be prorated based on the actual number of will issue a check to Tenant for such overpaid amount within thirty (30) days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7statement issuance.

Appears in 1 contract

Samples: Lease Agreement (Manhattan Associates Inc)

Additional Rental. 1. Tenant shall pay, as further agrees to pay Additional Rental, Tenant's ----------------- Percentage Share of the amountin monthly installments, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before on the first day of each month during of the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year Term commencing on the basis first day of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for following the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. set forth in Paragraph 1E. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate Term ends on a day other than the last day of a calendar yearmonth, then, upon the amount first day of the last calendar month of the Term, Tenant will pay Landlord a portion of Additional Rental for such fractional month prorated based on a 30-day month. 2. Additional Rental will be paid by Tenant to Landlord, without notice and without deduction or offset, in lawful money of the United States of America, at the Building office or to such other person and/or at such other place as Landlord may from time to time designate in a notice to Tenant. 3. Landlord will try to give Tenant advance notice of Additional Rental payable by Tenant, but failure by Landlord to give advance notice is not a waiver by Landlord of its right to receive from Tenant any Additional Rental. In addition, Landlord may, but is not required to, at or after the start of the calendar year following the calendar year set forth in Paragraph 1E, notify Tenant of Landlord's estimate of Tenant's liability for Additional Rental for the ensuing year, which amount will be divided into twelve (12) equal portions and added to the monthly payments of rent required to be made by Tenant in such year. If Tenant's actual payment of Additional Rental is finally determined by Landlord to be greater or less than the total amounts actually paid by Tenant pursuant to this paragraph during the first applicable year ("Landlord's Statement"), a credit or final calendar year of the Lease Termpayment will be made by Landlord or Tenant, as whichever the case may be, within the thirty (30) days following the issuance of Landlord's Statement. Upon written request by Tenant within thirty (30) days of issuance of Landlord's Statement, Landlord will make its prior year records pertaining to Direct Expenses available to Tenant to allow Tenant, at its sole cost and expense, to verify their accuracy. Absent such request, Landlord's Statement shall be prorated based final as to such year. 4. Direct Expenses include all costs of operation and maintenance of the Building as determined by Landlord including, but not limited to, the following costs by way of illustration only: premiums for property, casualty, liability, rent interruption or any other insurance carried by Landlord; salaries, wages and other amounts paid or payable for personnel including the Building manager, superintendent, operation and maintenance staff, and other employees of Landlord involved in the maintenance, management and operation of the Building, including contributions and premiums towards fringe benefits, unemployment, disability insurance, worker's compensation insurance, pension plan contributions and similar premiums and contributions and the total charges of any independent contractors or property managers engaged in the operation, repair, care, maintenance and cleaning of any portion of the Building; fair market rental and other costs with respect to Building Management office; costs of accounting services incurred in the preparation of statements and financial reports, audit fees; cleaning expenses, including without limitation janitorial services, window cleaning and garbage and refuse removal; landscaping expenses, including without limitation irrigating, trimming, fertilizing, replacing plants and floral arrangements; heating, plumbing, mechanical, elevator, sprinklers, fire/life safety systems, security and energy management systems and steam/utilities expenses, including fuel, gas, electricity, water, sewer, telephone, advertising, public relations, tenant relations and activities and other services, maintaining, operating and repairing components of any equipment or machinery used in connection with the Building, and the rental of same or any office or other equipment for the management of the Building; any other items of repair and maintenance of the Building; cost of policing, security and supervision of the Building; audit and accounting fees; any capital improvements (or amortization thereof) (i) made primarily to reduce Direct Expenses or to comply with governmental requirements, (ii) for replacements (as opposed to additions or new improvements) of nonstructural items located in the common areas of the Property required to keep such areas in good condition or (iii) expenditures that are consistent with Direct Expenses as defined above, although the benefits of the expenditures survive the current year; payments under any easement, operating agreement, declaration, restrictive covenant or instrument pertaining to sharing of costs in a planned development; fee for administration and management of the building as determined by Landlord. Direct Expenses do not include depreciation on the actual number of days Building loan payments, real estate brokerage commissions, and costs directly attributed to one tenant and not to other tenants of the Lease Building generally. Permitted capital improvements and repairs may be amortized in the Landlord's reasonable discretion over: (i) their useful lives, (ii) the period during which capital improvements reduce Direct Expenses or (iii) three (3) years. Landlord may allocate costs of operation and maintenance between the building where the Premises are located and other properties owned by landlord or its affiliates and under common management, as determined by landlord in the exercise of its reasonable discretion. Similarly, Landlord may make other allocations of Direct Expenses in accordance with sound management and accounting principles. 5. Direct Tax Expenses include all real property taxes and annual installments of real estate assessments on the Building; personal property taxes on personal property of Landlord used in the operation or maintenance of the Building; supplemental assessments that may result from changes in ownership or from the completion of new construction; escape assessments; taxes on the gross or net rental income of Landlord derived from the Building (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources); impositions created to pay for or supplement the cost of governmental services that the Building or its tenants may use; transit or transportation charges; housing subsidies and/or housing fund assessments; possessory interest taxes; business or license taxes or fees; job training subsidies and/or assessments; open space charges; excises; business or other license or use fees; and the reasonable costs of contesting by appropriate proceedings the amount or validity of any of the foregoing. If, during the Term of this Lease, the present real property tax is wholly or partly replaced or supplemented by another form of tax, there will be included within the definition of Direct Tax Expenses any such tax, levy, or assessment (other than federal, state, or city and county net income taxes or estate, gift, or other similar taxes) that, whether or not now customary or within the contemplation of the parties to this Lease, may be charged to Landlord and is by way of example and not limitation (i) levied upon, allocable to, or measured by the Rent payable hereunder; (ii) levied upon the business of owning and operating rental properties to the extent such tax is applicable to the Premises; (iii) levied upon or with respect to the possession, leasing, operation, management, or occupancy by Tenant of the Premises or any portion thereof, or (iv) levied upon or measured by the value of Tenant's personal property or leasehold improvements. Direct Tax Expenses also include all expenses incurred, including attorneys' and consultants' fees, in seeking a reassessment, reduction of, or limit on the increase in any Direct Tax Expenses, whether or not successful. Property taxes for any calendar year shall include property taxes which are due for payment as well as those paid in such year. 6. If the Building rentable square footage is not one hundred percent (100%) occupied during such an entire calendar year, including the Base Year, then the variable component of Direct Expenses and Direct Tax Expenses will be equitably adjusted so that the total amount of Direct Tax Expenses and Direct Expenses equals the amount which would have been paid or incurred by Landlord had the Building been one hundred percent (100%) occupied for the entire calendar year. The expiration or termination In no event will Landlord be entitled to receive from Tenant and the other tenants in the Building an aggregate amount in excess of this Lease shall not affect actual Direct Expenses and Direct Tax Expenses as a result of the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7foregoing provision.

Appears in 1 contract

Samples: Office Lease (Tenera Inc)

Additional Rental. In addition to the Base Rental required to be paid by Tenant to Landlord pursuant to the provisions hereof, Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The also pay Landlord Additional Rental payable pursuant during the Lease Term and any extensions or renewals thereof, at Landlord’s address provided herein (or at such other address as may be designated by Landlord in writing from time to this paragraph shall be determinedtime), and paid without any demand, setoff or deduction whatsoever, calculated and payable in accordance with the following proceduresprovisions: (ia) During each December of the Lease TermLandlord may collect such Additional Rental, or as soon thereafter as practicableany portion thereof, monthly, in advance, based upon an estimate, and/or in arrears on a yearly basis. In the event Landlord shall give Tenant written notice of its estimate of elects to collect the Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar yearany portion thereof in arrears, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery the date Tenant receives a statement from Landlord. Landlord shall also have the option to make an estimate of the statementAdditional Rental for each upcoming calendar year, or portion thereof in the event of a partial calendar year, and upon written notice to Tenant, may require that Tenant pay Landlord Additional Rental based upon such estimates at the same time and on the same date that the monthly installments of Base Rental are due hereunder, in which event, Tenant will begin paying the Additional Rental with the next installment of Base Rental due after receipt of Landlord’s notice, and will continue paying such increase until Landlord revises Landlord’s estimate. In the event that Landlord delivers notice of the estimate to Tenant for any calendar year after the particular calendar year has already commenced, then Landlord shall also be entitled to require Tenant to pay concurrently with the next installment of Base Rental due under the Lease the amount by which (i) the product of one-twelfth (1/12th) of the amount of the estimated Additional Rental for such calendar year times the number of calendar months in such year which have already wholly or partially expired, exceeds (ii) the Additional Rental which has previously been paid by Tenant with respect to such calendar year. At any time and from time to time during the Lease Term, Landlord will have the right by written notice to Tenant (which notice shall include an explanation as to the justification for such adjustment), to change the amount of the monthly Additional Rental payable by Tenant hereunder to reflect more accurately, in the reasonable judgment of Landlord, any change in Landlord’s estimate of the actual Additional Rental, such change to be effective with the next installment of Base Rental due after receipt by Tenant of Landlord’s written notice. Any amounts paid based on Landlord’s estimate of the Additional Rental shall be subject to adjustment pursuant to Section 3.3(b) hereof when actual Basic Costs and Energy Costs are available for each calendar year. (iiib) By April 1 of each calendar year during Tenant’s occupancy, or as soon thereafter as is reasonably practical, Landlord shall furnish to Tenant a statement of Landlord’s calculation of Additional Rental for the previous calendar year. If for any calendar year Additional Rental collected for the prior year, as a result of Landlord’s estimate of Basic Costs or Energy Costs, is in excess of the Additional Rental actually due during such prior year, then Landlord shall refund to Tenant any overpayment within thirty (30) days following the date Landlord delivers such statement to Tenant. Likewise, subject to Tenant’s rights under Section 3.3(c) below, Tenant shall pay to Landlord, within thirty (30) days following receipt of such statement, any underpayment of Additional Rental with respect to the prior year. (c) Tenant, at its expense, shall have the right no more frequently than once per calendar year, following prior written notice to Landlord, to review Landlord’s books and records relating to Additional Rental. Such request by Tenant must be made within forty five (45) days after receipt of Landlord’s annual statement regarding Additional Rental. Tenant is entitled to object to Landlord’s calculation of Tenant’s Proportionate Share of Excess Basic Costs and/or Energy Costs by sending notice specifying such objection and the reasons therefor to Landlord no later than thirty (30) days after Landlord makes such books and records available for examination. If Tenant objects to any portion of Landlord’s annual statement regarding Additional Rental, Landlord shall refer the matter to an independent certified public accountant, whose certification as to the proper amount shall be final and conclusive as between Landlord and Tenant. Tenant shall promptly pay the cost of such certification unless such certification determines that the annual statement or any separate statement was in error to Tenant’s detriment. Tenant shall have no right to review such books and records following the expiration of such forty (45) day period. Pending resolution of any Tenant objection to the annual statement, Tenant shall continue paying Additional Rent in the amounts determined by Landlord, subject to adjustment after any such objections are so resolved. (d) Notwithstanding any provision contained herein to the contrary, if less than ninety five percent (95%) of the Net Rentable Area of the Building is occupied during any calendar year of the Lease Term, Additional Rental for purposes of Section 3.3(a) and 3.3(b) hereof shall be increased to the extent necessary to reflect the charges which would have been incurred if ninety five percent (95%) of the Net Rentable Area of the Building had been occupied during such year. (e) If this the term of the Lease shall commence, expire or terminate commences on a date other than the first day of a calendar year, or ends on a date other than the last day of a calendar year, the amount of Additional Rental payable then during the first or final and/or last calendar year years of the Lease Term, as appropriate, Basic Costs and the case may be, Basic Costs Base Rate shall be prorated based on the actual basis of the number of days elapsing during such year to reflect the portion of the Basic Costs and the Basic Costs Base Rate which is allocable to the portion of such first or last year which is included within the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Term.

Appears in 1 contract

Samples: Lease Agreement (Ace Cash Express Inc/Tx)

Additional Rental. Tenant a. The clauses under Article 5. BASE RENTAL ADJUSTMENT of the Bindview Base Lease covering additional rental shall pay, apply to this Sublease during the term of this Sublease. b. The base year for Base Rental Adjustment (as defined in Article 5 of the Bindview Base Lease and herein called “Additional Rental”) computations shall be 2005 (the “Base Year”). c. Subtenant shall pay as Additional RentalRental any costs incurred in connection with Subtenant’s operation or after hours use of the heating, Tenant's ----------------- Percentage Share ventilation, and air conditioning system (“HVAC”) within the Subleased Premises as permitted by Section 7.04 of the Bindview Base Lease. d. Beginning in 2006 and for each year thereafter during the Sublease term, Subtenant shall pay to Sublandlord as Additional Rental its proportionate share (i.e. the percentage determined from time to time by dividing the Net Rentable Area of the Subleased Premises by the total Net Rentable Area of the Bindview Premises during the term of the Bindview Base Lease) of the amount, if any, by which Operating Expenses (as hereinafter defined) the Basic Cost for any calendar each such year exceed $1,545,147.50 ($6.50/rentable square foot exceeds the Base Year Basic Cost. e. Subtenant’s proportionate share of the Buildings). The Additional Rental payable pursuant to this paragraph Rent shall be determinedpayable monthly, based on the estimates of Basic Cost being paid by Sublandlord under Sections 5.01 and paid in accordance with the following procedures: (i) During each December 5.02 of the Bindview Base Lease Termand continuing until the Expiration Date of this Sublease. In the event of any adjustment to Sublandlord’s payments with respect to Basic Cost under Sections 5.04, or as soon thereafter as practicable5.05 and 5.06 of the Bindview Base Lease, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant Subtenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Termreceive, as the case may be, a corresponding adjustment of its payments with respect to Basic Cost under this Paragraph. f. Sublandlord shall be prorated based on provide to Subtenant, within fifteen (15) days after Sublandlord’s receipt thereof, copies of all estimates and statements received by Sublandlord from Landlord with respect to the actual number amount or payment of days of Basic Cost for any year during the Lease Term during such calendar year. The expiration or termination term of this Lease Sublease. If Sublandlord elects to exercise its right to audit the Landlord’s books and records relating to Basic Cost, Subtenant shall not affect have the obligations right to examine the results of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7audit.

Appears in 1 contract

Samples: Sublease Agreement (Bindview Development Corp)

Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of (a) Commencing with the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of in which the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, Commencement Date occurs and paid in accordance with continuing thereafter for each calendar year during the following procedures: (i) During each December of the full Lease Term, or as soon thereafter as practicable, Landlord shall give present to Tenant written notice prior to the beginning of its estimate of Additional Rental payable under this Article 7 said calendar year (or for the ensuing calendar year. On year in which the Lease Term commences, on or before the first day Commencement Date) a statement of each month during Tenant’s Forecast Additional Rental. Landlord’s failure to deliver such a statement of Tenant’s Forecast Additional Rental shall not operate to excuse Tenant from the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) payment of such estimated amounts together with the Base Rental, provided that if such notice is not given in Decembermonthly installment of Tenant’s Forecast Additional Rental due under Section 2.1(a). Rather, Tenant shall continue to pay such the monthly installment of Tenant’s Forecast Additional Rental during based on Landlord’s most recent calculation thereof until such a statement is delivered to Tenant, with such statement being applied retroactively to the ensuing calendar year on the basis beginning of the amounts payable during the calendar year just endedand Tenant making up any under payments (or Landlord refunding any overpayment or affording Tenant a credit against the next ensuing Rental obligations) immediately upon its receipt of such statement. Landlord may, until from time to time, recalculate Tenant’s Forecast Additional Rental in order to more accurately reflect Landlord’s good faith estimate of Tenant’s Additional Rental, and Tenant shall commence paying the month recalculated Tenant’s Forecast Additional Rental, in accordance with Section 2.1(a) hereof, upon the later of the next monthly payment date of Rental or ten (10) days after such receiving notice is giventhereof. (iib) As soon as practicable after used herein, “Tenant’s Forecast Additional Rental” shall mean Landlord’s reasonable estimate of Tenant’s Additional Rental for the close of each coming calendar year during the Lease Term(or, Landlord shall deliver to Tenant a statement of the adjustments to be made for in the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on in which the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant Lease Term commences, for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement). (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7.

Appears in 1 contract

Samples: Office Lease Agreement (NCL CORP Ltd.)

Additional Rental. A. Tenant shall pay, as further agrees to pay Additional Rental, Tenant's ----------------- Percentage Share of the amountin monthly installments, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before on the first day of each month during of the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year Term commencing on the basis first day of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for following the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. set forth in Paragraph 1E. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate Term ends on a day other than the last day of a calendar yearmonth, then, upon the amount first day of the last calendar month of the Term, Tenant will pay Landlord a portion of Additional Rental for such fractional month prorated based on a 30-day month. Non-recurring Additional Rental shall be due within ten (10) days following receipt of the statement of charges. B. Additional Rental will be paid by Tenant to Landlord, without notice and without deduction or offset, in lawful money of the United States of America, at the Building office or to such other person and/or at such other place as Landlord may from time to time designate in a notice to Tenant. C. Landlord will try to give Tenant advance notice of Additional Rental payable by Tenant, but failure by Landlord to give advance notice is not a waiver by Landlord of its right to receive from Tenant any Additional Rental. In addition, Landlord may, but is not required to, at or after the start of the calendar year following the calendar year set forth in Paragraph 1E, notify Tenant of Landlord’s estimate of Tenant’s liability for Additional Rental for the ensuing year, which amount will be divided into twelve (12) equal portions and added to the monthly payments of rent required to be made by Tenant in such year. If Tenant’s actual payment of Additional Rental is finally determined by Landlord to be greater or less than the total amounts actually paid by Tenant pursuant to this paragraph during the first applicable year (“Landlord’s Statement”), a credit or final calendar year of the Lease Termpayment will be made by Landlord or Tenant, as whichever the case may be, within the thirty (30) days following the issuance of Landlord’s Statement. Upon written request by Tenant within forty-five (45) days of issuance of Landlord’s Statement, Landlord will make its prior year records pertaining to Direct Expenses available to Tenant to allow Tenant, at its sole cost and expense, to verify their accuracy. In the event that Tenant’s examination reveals an overcharge of more than 5%, then Landlord shall reimburse Tenant for its costs and expenses in connection with the examination but in no event will such reimbursement exceed the amount which Tenant was overcharged. In all other events, such examination shall be prorated based at Tenant’s sole cost and expense. Absent such request, Landlord’s Statement shall be final as to such year. D. Direct Expenses include all costs of operation and maintenance of the Building as determined by Landlord including, but not limited to, the following costs by way of illustration only: premiums for property, casualty, liability, rent interruption or other insurance carried by Landlord; salaries, wages and other amounts paid or payable for personnel including the Building manager, superintendent, operation and maintenance staff, and other employees of Landlord involved in the maintenance, management and operation of the Building, including contributions and premiums towards fringe benefits, unemployment, disability insurance, worker’s compensation insurance, pension plan contributions and similar premiums and contributions and the total charges of any independent contractors or property managers engaged in the operation; repair, care, maintenance and cleaning of any portion of the Building; fair market rental and other costs with respect to Building Management office; costs of accounting services incurred in the preparation of statements and financial reports, audit fees; cleaning expenses, including without limitation janitorial services, window cleaning and garbage and refuse removal; landscaping expenses, including without limitation irrigating, trimming, fertilizing, replacing plants and floral arrangements; heating, plumbing, mechanical, elevator, sprinklers, fire/life safety systems, security and energy management systems and steam/utilities expenses, including fuel, gas, electricity, water, sewer, telephone, advertising, public relations, tenant relations and activities and other services, maintaining, operating and repairing components of any equipment or machinery used in connection with the Building, and the rental of same or any office or other equipment for the management of the Building; any other items of repair and maintenance of the Building; intrabuilding network cabling and riser maintenance and repair; cost of policing, security and supervision of the Building; audit and accounting fees; any capital improvements (or amortization thereof) (i) made primarily to reduce Direct Expenses or to comply with governmental requirements, (ii) for replacements (as opposed to additions or new improvements) of nonstructural items located in the common areas of the property required to keep such areas in good condition or (iii) expenditures that are consistent with Direct Expenses as defined above, although the benefits of the expenditures survive the current year; payments under any easement, operating agreement, declaration, restrictive covenant or instrument pertaining to sharing costs in a planned development; fee for administration and management of the building as determined by Landlord. Direct Expenses do not include depreciation on the actual number of days Building, loan payments, real estate brokerage commissions, and costs directly attributed to one tenant and not available to other tenants or applicable to other suites of the Lease Building generally. Permitted capital improvements and repairs may be amortized in the Landlord’s reasonable discretion over: (i) their useful lives, (ii) the period during which capital improvements reduce Direct Expenses or (iii) three (3) years or more at Landlord’s discretion. Landlord may allocate costs of operation and maintenance between the building where the Premises are located and other properties owned by landlord or its affiliates and under common management, as determined by landlord in the exercise of its reasonable discretion. Similarly, Landlord may make other allocations of Direct Expenses in accordance with sound management and accounting principles. E. Direct Tax Expenses include all real property taxes and annual installments of real estate assessments on the Building; personal property taxes on personal property of Landlord used in the operation or maintenance of the Building; supplemental assessments that may result from changes in ownership or from the completion of new construction; escape assessments; taxes on the gross or net rental income of Landlord derived from the Building (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources); impositions created to pay for or supplement the cost of governmental services that the Building or its tenants may use; transit or transportation charges; housing subsidies and/or housing fund assessments; possessory interest taxes; business or license taxes or fees; job training subsidies and/or assessments; open space charges; excises; business or other license or use fees; and the reasonable costs of contesting by appropriate proceedings the amount or validity of any of the foregoing. If, during the Term of this Lease, the present real property tax is wholly or partly replaced or supplemented by another form of tax, there will be included within the definition of Direct Tax Expenses any such tax, levy, or assessment (other than federal, state, city and county net income taxes or estate, gift, or other similar taxes) that, whether or not now customary or within the contemplation of the parties to this Lease, may be charged to Landlord and is by way of example and not limitation (i) levied upon, allocable to, or measured by the Rent payable hereunder; (ii) levied upon the business of owning and operating rental properties to the extent such tax is applicable to the Premises; (iii) levied upon or with respect to the possession, leasing, operation, management, or occupancy by Tenant of the Premises or any portion thereof, or (iv) levied upon or measured by the value Tenant’s personal property or leasehold improvements. Direct Tax Expenses also include all expenses incurred, including attorneys’ and consultants’ fees, in seeking a reassessment, reduction of, or limit on the increase in any Direct Tax Expenses, whether or not successful. Property taxes for any calendar year shall include property taxes which are due for payment as well as those paid in such year. F. If the Building rentable square footage is not one hundred percent (100%) occupied during such an entire calendar year, including the Base Year, then the variable component of Direct Expenses and Direct Tax Expenses will be equitably adjusted so that the total amount of Direct Tax Expenses and Direct Expenses equals the amount which would have been paid or incurred by Landlord had the Building been one hundred percent (100%) occupied for the entire calendar year. The expiration or termination In no event will Landlord be entitled to receive from Tenant and the other tenants in the Building an aggregate amount in excess of this Lease shall not affect actual Direct Expenses and Direct Tax Expenses as a result of the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7foregoing provision.

Appears in 1 contract

Samples: Lease Agreement (XOOM Corp)

Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses (the number of square feet contained in the Rentable area of the Premises under this Lease multiplied by $6.25 per square foot is less than Tenant's Percentage Share, as hereinafter defined) , of the Operating Expenses, as hereinafter defined, for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot "Tenant's Percentage Share" of the Buildings)Operating Expenses shall be an amount determined by multiplying the total Operating Expenses of the Eastside Physicians Center for the year by a fraction, the numerator of which shall be the Rentable Area of the Premises and the denominator of which shall be the average of all rentable areas occupied by all rent paying tenants in the Building for the year. The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 paragraph for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is Tenant owes an amount that is less than the estimated payments actually for the calendar year just ended previously made by Tenant for such calendar yearTenant, Landlord shall credit such excess to the next payments of Additional Rental rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar yearprorated. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7paragraph 4.

Appears in 1 contract

Samples: Lease Agreement (Physicians Specialty Corp)

Additional Rental. Tenant shall pay(a) For purposes of this Lease, as “Tenant’s Forecast Additional Rental, ” means Landlord’s reasonable estimate of Tenant's ----------------- Percentage Share ’s Operating Expense Rental for the initial period of the amount, if any, by which Operating Expenses (as hereinafter defined) for any Lease Term from the Lease Commencement Date until the end of the first calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, and for all subsequent calendar years or as soon thereafter as practicableportions thereof occurring during the balance of the Lease Term. If at any time it reasonably appears to Landlord that Tenant’s Operating Expense Rental for the current calendar year will vary from Landlord’s estimate, Landlord shall give Tenant written notice of have the right to revise its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, such year by notice to Tenant and subsequent payments by Tenant for such year shall pay to Landlord one-twelfth (1/12) of be based upon such estimated amounts together with the Base Rentalrevised estimate, provided that if Landlord shall not make any such notice is adjustment more than two (2) times in any twelve (12) month period. Failure to make such a revision shall not given in December, Tenant shall continue prejudice Landlord’s right to pay such Additional Rental during collect the ensuing calendar year on full amount of Tenant’s Operating Expense Rental. Prior to the basis of Lease Commencement Date and thereafter prior to the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall deliver present to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant ’s Forecast Additional Rental for such calendar year; provided, Landlord shall credit however, that if such excess statement is not given prior to the next payments beginning of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such any calendar year is an amount greater that the estimated payments actually made by Tenantyear, Tenant shall continue to pay during the next ensuing calendar year on the same basis as Additional Rental in the deficiency prior calendar year until the month after such statement is delivered to Landlord within Tenant. Commencing with the first day of the calendar month following thirty (30) days after delivery the date in which the Tenant’s Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant’s Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last first day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7each month.

Appears in 1 contract

Samples: Lease Agreement (Atlassian Corp PLC)

Additional Rental. Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share of In addition to the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Base Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by TenantA above, Tenant shall pay as Additional Rental for the deficiency period from and after the Commencement Date (i) Tenant’s Percentage Share of (a) Operating Expenses and (b) Impositions as provided in paragraph B of Article 7, (ii) utility charges as provided in paragraph A of Article 7 and Tenant Impositions as provided in paragraph B of Article 7, and (iii) all other payments to Landlord be made by Tenant to Delta pursuant to Articles 9, 10 and 16 of this Lease and all other payments to be made by Tenant to Delta with respect to capital improvements, capital replacements or other capital expenditures as provided in Article 1 of this Lease. Operating Expenses prior to the first January 1 to occur after the Commencement Date shall be estimated based upon a budget prepared by Delta and approved by Tenant, which approval shall not be unreasonably withheld or delayed. For each succeeding calendar year of this Lease, the estimate of Operating Expenses shall be based upon actual Operating Expenses for the previous calendar year (with respect to the first full calendar year, adjusted, if necessary, to reflect a Commencement Date on a date other than January 1). Tenant shall pay one-twelfth (1/12th) of Tenant’s Percentage Share of such estimated Operating Expenses (“Tenant’s Estimated Operating Expenses”) for the calendar year on the first (1st) day of each calendar month. By April 1 of each calendar year following the Commencement Date, Delta shall furnish to Tenant a statement of Delta’s actual Operating Expenses for the previous calendar year and the calculation of Tenant’s Estimated Operating Expenses for the current calendar year. Tenant agrees to pay Delta, within thirty (30) days after delivery receipt of Delta’s statement, any amount of Tenant’s Percentage Share of actual Operating Expenses which was not previously paid as Tenant’s Estimated Operating Expenses for such previous calendar year. If for any calendar year the statement. (iii) If this Lease shall commence, expire or terminate on a day other amount of Tenant’s Estimated Operating Expenses paid by Tenant during such calendar year is greater than the last day Tenant’s Percentage Share of a actual Operating Expenses during such calendar year, as shown by Delta’s statement or, if audited, by the amount audit thereof described below (provided such auditor’s determination is confirmed by Delta or otherwise determined to be correct), then, (i) if such overpayment is less than $50,000.00, Delta shall apply and credit such overpayment in reduction of the next accruing installment of Additional Rental payable during by Tenant to Delta, and (ii) if such overpayment is greater than $50,000.00, Delta shall refund to Tenant the first or final entire amount of any such overpayment within ten (10) days of Tenant’s written request to Delta for payment of such amount. If such audit reflects an underpayment by Tenant with respect to the period audited, then Tenant shall pay to Delta the entire amount of such underpayment within ten (10) days of receipt of Delta’s invoice therefor. Tenant shall have the right, within one hundred eighty (180) days after receipt of Delta’s statement of actual Operating Expenses for the previous calendar year, to cause Delta’s books and records relating to Operating Expenses to be audited by a Big Eight accounting firm designated by Tenant and reasonably acceptable to Delta, and Delta shall cooperate with Tenant and such accountants in connection with any such audit; provided, however, that Tenant shall pay all costs and expenses of such audit unless such audit reveals that the amount of Operating Expenses set forth in Delta’s statement for the previous calendar year of the Lease Term, as the case may be, shall be prorated based on exceeds the actual number amount of days of the Lease Term during such Operating Expenses for such calendar year. The expiration year as disclosed by such audit by more than five percent (5%) (and provided further that such auditor’s determination is confirmed by Delta or termination of this Lease shall not affect the obligations of Landlord and Tenant otherwise determined to be performed after correct), in which event Delta shall pay the costs and expenses of such expiration or terminationaudit, pursuant to this Article 7including the fees and expenses of Tenant’s accountant.

Appears in 1 contract

Samples: Lease Agreement (Ws Financing Corp)

Additional Rental. (a) For each calendar year during the term of this Lease after the calendar year 1994 (the "Base Calendar Year"), Tenant shall pay, as Additional Rental, Tenant's ----------------- Percentage Share pay its proportionate share of the amount, if any, by which the Actual Operating Expenses (as hereinafter defined) for such year exceed the Actual Operating Expenses for the Base Calendar Year (Tenant's proportionate share of such excess for each year being herein referred to as" Additional Rental"). It is agreed that, subject to the provisions of Section 2.04(c) of this Lease, Tenant's proportionate share is a fraction, the numerator of which is the Net Rentable Area of the Leased Premises and the denominator of which is the greater of (i) the actual number of square feet of Net Rentable Area leased to tenants of the Project and (ii) ninety-five percent (95%) of the Net Rentable Area of the Building. Landlord's good faith estimate of the Actual Operating Expenses for the Base Calendar Year (after adjustment pursuant to Section 2.04(c) below is $5.60 per square foot of Net Rentable Area. (b) On or about December 15, 1994 and on December 15 of each calendar year thereafter during the term of this Lease, Landlord shall present to Tenant a good faith estimate of the Actual Operating Expenses for the forthcoming calendar year and a calculation of the monthly installments of Additional Rental ("Forecast Additional Rental") to be due and payable by Tenant during such forthcoming year. Thereafter, unless and until Landlord delivers to Tenant a revision of the estimate, Tenant shall pay to Landlord the Forecast Additional Rental for the applicable calendar year in accordance with Section 2.02 hereinabove. From time to time during any calendar year exceed $1,545,147.50 ($6.50/rentable square foot for which Additional Rental is payable, Landlord may revise up or down its estimate of the Buildings)Additional Rental for such calendar year based on either actual or reasonably anticipated increases in Actual Operating Expenses. The Thereafter, the monthly installments of Forecast Additional Rental payable pursuant to this paragraph by Tenant shall be determined, and paid appropriately adjusted in accordance with the following procedures:revised estimate so that by the end of such calendar year, the total payments of Forecast Additional Rental paid by Tenant shall equal Tenant's proportionate share of the amount by which the revised estimate of Actual Operating Expenses exceeds the Actual Operating Expenses for the Base Calendar Year. (ic) During each December Within one hundred fifty (150) days after the end of the Lease Term, or as soon thereafter as practicableBase Calendar Year and after the end of each subsequent calendar year during the term of this Lease, Landlord shall give provide Tenant written notice of its estimate of a statement showing in reasonable detail (including a line-item breakdown) the Actual Operating Expenses for said calendar year, prepared in accordance with generally accepted accounting practices, and a statement prepared by Landlord comparing the Forecast Additional Rental payable under this Article 7 paid by Tenant with the actual Additional Rental. If the Forecast Additional Rental paid by Tenant exceeds the Additional Rental for the ensuing said calendar year, Landlord shall pay Tenant an amount equal to such excess at Landlord's option, by either giving a credit against rentals next due, if any, or by direct payment to Tenant within thirty (30) days of the date of such statement. On or before In the first day of each month during event that the ensuing Additional Rental exceeds the Forecast Additional Rental for said calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base RentalLandlord, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of receipt of the statement. , an amount equal to such difference. Tenant shall have the right to audit, at Tenant's expense and after giving twenty (iii20) If this Lease shall commencedays' prior written notice to Landlord, expire or terminate on a day other than Landlord's books and records relating to Actual Operating Expenses for any period within the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination term of this Lease and not more than two (2) years prior to the review; provided, however, if such audit reveals a misstatement by more than five percent (5%) of Actual Operating Expenses for the period being audited, Landlord shall reimburse Tenant for the reasonable costs of such audit. The exercise by Tenant of its audit rights hereunder shall not affect the obligations relieve Tenant of Landlord and Tenant its obligation to be performed after such expiration or terminationpay all sums due hereunder in a timely manner, pursuant to this Article 7including, without limitation, any disputed Actual Operating Expenses.

Appears in 1 contract

Samples: Lease Agreement (Howell Corp /De/)

Additional Rental. Tenant The first paragraph of Paragraph Five of the Office Lease Agreement as amended shall paybe amended effective June 1, 2007 to read as follows: Landlord shall absorb and be responsible for paying all Operating Expenses during the first calendar year of the Renewal Term (the “Expense Stop”); and, Landlord shall absorb and be responsible for all Operating Expenses for any other calendar year of the Renewal Term to the extent such Operating Expenses in any other calendar year are less than or equal to the Expense Stop. Thereafter, “Additional Rental, ” for any calendar year shall mean Tenant's ----------------- ’s Percentage Share of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such in excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase Expense Stop, “Tenant’s Percentage Share” shall mean a fraction, the numerator of which is the total number of square feet of Net Rentable Area within the Premises (27,268 square feet from and after February 1, 2007) and the denominator of which is the greater of (i) ninety-five percent (95%) of the total square footage of all Net Rentable Area in the Building (42,073 as of February 1, 2007); or (ii) the total square footage of all Net Rentable Area in the Building actually leased to rent paying tenants. Paragraph c. of Paragraph Five of the Office Lease Agreement as amended shall be amended effective June 1, 2007 to read as follows: The Annual Operating Expenses for such calendar year is an amount greater that the estimated payments actually made Expense Statement shall be rendered by Tenant, Landlord to Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days day after delivery calculation of such Annual Operating Expenses by Landlord. The payment of any Additional Rental by Tenant shall not preclude it from questioning the truth, correctness, or completeness of any Annual Operating Expense Statement. Tenant and its authorized representatives shall have the right to audit Landlord’s records with respect to the Annual Operating Expenses. In the event Tenant’s audit discloses discrepancies, the appropriate adjustment shall be made, and if such discrepancies result in an overcharge to Tenant that is in excess of 2% of the statement. annual billing to Tenant for such item(s), Landlord shall also reimburse Tenant its actual out-of-pocket expenses of such audit, but in no event shall Landlord be responsible for audit expenses of Tenant that exceed the amount(s) found to be an overcharge to Tenant. In the event Tenant shall dispute any Annual Operating Expense Statement and the parties cannot resolve their differences within sixty (iii60) If this Lease shall commencedays thereafter, expire or terminate on a day other than then the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, matter shall be prorated based on the actual number of days of the Lease Term during such calendar yearreferred to arbitration. The expiration or termination balance of this Lease subparagraphs 5 (a) and (b) shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7remain unchanged.

Appears in 1 contract

Samples: Office Lease Agreement (Active Network Inc)

Additional Rental. Tenant shall pay(a) For purposes of this Lease, as "Tenant's Forecast Additional Rental, " shall mean Landlord's reasonable estimate of Tenant's ----------------- Percentage Share of Additional Rental for the amount, if any, by which Operating Expenses (as hereinafter defined) for any coming calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings)or portion thereof. The If at any time it appears to Landlord that Tenant's Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with for the following procedures: current calendar year will vary from Landlord's estimate by more than five percent (i) During each December of the Lease Term, or as soon thereafter as practicable5%), Landlord shall give Tenant written have the right to revise, by notice of to Tenant, its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar such year, and subsequent payments by Tenant for such year shall pay be based upon such revised estimate of Tenant's Additional Rental. Failure to Landlord one-twelfth (1/12) make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of such estimated amounts together with Tenant's Additional Rental. Prior to the Base Rental, provided that if such notice is not given in December, Tenant shall continue Rental Commencement Date and thereafter prior to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall deliver present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the adjustments beginning of any calendar year as aforesaid, Tenant shall continue to be made for pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on ended until the basis of month after such statement is delivered to Tenant. (b) For purposes of this Lease, "Tenant's Percentage Share Additional Rental" shall mean for each calendar year the Operating Expense Amount (defined below) multiplied by the number of square feet of Rentable Floor Area of Demised Premises. As used herein, "Operating Expense Amount" shall mean an amount equal to (i) plus (ii), where: (i) equals the actual increase in amount of Operating Expenses (as defined below) for such calendar year; and (ii) equals a management fee contribution equal to three percent (3%) of the sum of the Base Rental plus the amount due under item (i) above. Notwithstanding anything to the contrary set forth in item (ii) above, for the period beginning on the Effective Date and ending on August 31,2001, Tenant's management fee contribution shall continue to be calculated as provided in the Original Lease (i.e., $.34 per square foot of Rentable Floor Area of Demised Premises for calendar year is an amount that is less than 2000, and $.35 per square foot of Rentable Floor Area of Demised Premises for the estimated payments actually made applicable portion of calendar year 2001) and the three percent (3%) management fee contribution described in item (ii) above shall become effective as of September 1,2001. Tenant's management fee contribution for calendar year 2001 shall be appropriately pro-rated as of September 1, 2001. (c) Within one hundred fifty (150) days after the end of the calendar year in which the Rental Commencement Date occurs and of each calendar year thereafter during the Lease Term, Landlord shall provide Tenant a statement showing the Operating Expenses (including components thereof in reasonable detail) for said calendar year, and a statement prepared by Tenant Landlord comparing Tenant's Forecast Additional Rental with ATLOI/IO756990v6 Tenant's Additional Rental. In the event Tenant's Forecast Additional Rental exceeds Tenant's Additional Rental for such said calendar year, Landlord shall credit such amount against Rent next due hereunder or, if the Lease Term has expired or is about to expire, refund such excess to Tenant if there is not an event of default on the next payments part of Tenant under this Lease (in the instance of an event of default such excess shall be held as additional security for Tenant's performance, may be applied by Landlord to cure any such event of default, and shall not be refunded until any such event of default is cured). In the event that the Tenant's Additional Rental coming due. If on the basis of such statement exceeds Tenant's Percentage Share of the actual increase in Operating Expenses Forecast Additional Rental for such said calendar year is an amount greater that the estimated payments actually made by Tenantyear, Tenant shall pay as Additional Rental the deficiency to Landlord Landlord, within thirty (30) days after delivery of receipt of the statement. (iii) If , an amount equal to such difference. The provisions of this Lease shall commence, expire or terminate on a day other than concerning the last day payment of a calendar year, the amount of Tenant's Additional Rental payable during shall survive the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or earlier termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Lease.

Appears in 1 contract

Samples: Lease Agreement (Indus International Inc)

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Additional Rental. (a) Tenant shall payalso pay as additional rental Tenant's Proportionate Share of Operating Expenses for each calendar year during the Term plus an annual management fee equal to three percent (3%) of the Base Rental and Additional Rental (exclusive of such management fee) payable by Tenant for such calendar year (collectively, as "Tenant's Additional Rental"). At least thirty (30) days prior to the Rent Commencement Date and prior to the commencement of each calendar year during the Term, Landlord shall provide Tenant a statement of Landlord's reasonable estimate of Tenant's Additional Rental ("Tenant's Estimated Additional Rental") for such calendar year, or portion thereof as the case may be, and Tenant shall thereafter pay Tenant's Estimated Additional Rental for such calendar year in accordance with Section 3.1 above. In addition, if at any time during a calendar year it appears to Landlord that Tenant's Additional Rental for such calendar year will exceed Tenant's Estimated Additional Rental then being paid by Tenant, Landlord shall have the right, but not the obligation, to appropriately revise, on at least 30 days' notice to Tenant, Tenant's ----------------- Percentage Share Estimated Additional Rental for the remainder of such calendar year and Tenant shall thereafter pay the revised Tenant's Estimated Additional Rental for the remainder of such calendar year. (b) Within one hundred fifty (150) days after the end of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of during the Buildings). The Additional Rental payable pursuant to this paragraph shall be determinedTerm, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicablereasonably possible after the termination of this Lease (Landlord and Tenant agreeing that the provisions of this Section 3.3 shall survive the termination of this Lease), Landlord shall give provide Tenant written notice of its estimate of a statement showing the Operating Expenses for said calendar year as prepared by a certified public accounting firm, and a statement prepared by Landlord comparing Tenant's Estimated Additional Rental payable under this Article 7 with Tenant's Additional Rental. If Tenant's Estimated Additional Rental exceeds Tenant's Additional Rental for the ensuing said calendar year, Landlord shall refund to Tenant the excess paid by Tenant within thirty (30) days after providing Tenant the statement. On Additionally, if Tenant's Estimated Additional Rental has been overestimated by five percent (5%) or before more, Landlord shall refund to Tenant interest on the first day entire overpayment at the Applicable Rate from July 1 of each month the calendar year during the ensuing which such overpayment was made until refunded. If Tenant's Additional Rental exceeds Tenant's Estimated Additional Rental for said calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of receipt of the statement. (iii) If statement an amount equal to such difference. Notwithstanding anything in this Lease to the contrary, Landlord acknowledges and agrees that, except as provided in Section 3.4(d) below, in no event shall commence, expire any Operating Expenses be billed or terminate on chargeable to Tenant after the date which is two (2) years following the calendar year end in which such Operating Expenses were incurred by Landlord. In the event Landlord (or any successor to Landlord in the event the Building is conveyed to a day other than the last day of a calendar year, the amount of Additional Rental payable new owner during the first or final calendar year Term of the Lease Termthis Lease, as the case Term may bebe renewed as provided herein) fails to xxxx any such Operating Expenses to Tenant within the aforementioned two (2) year period, Tenant shall have no obligation to pay any such Operating Expenses. For purposes of this Section 3.3, third-party expenses shall be prorated based deemed to have been incurred by Landlord on the actual number of days of the Lease Term during date that Landlord receives an invoice for such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7third-party expense.

Appears in 1 contract

Samples: Lease Agreement (Cabot Oil & Gas Corp)

Additional Rental. Tenant a. The clauses under Article 5. BASE RENTAL ADJUSTMENT of the Prime Lease, covering additional rental shall pay, apply to this Sublease. b. The base year for Base Rental Adjustment (as defined in Article 5 of the Prime Lease and herein called "Additional Rental") computations shall be 1998 (the "Base Year"). c. Sublessee shall pay as Additional RentalRental any costs incurred in connection with Sublessee's operation or after hours use of the heating, Tenant's ----------------- Percentage Share ventilation, and air conditioning system ("HVAC") within the Subleased Premises as permitted by Section 15.a hereof. d. Beginning in 1999 and for each year thereafter during the Sublease term, Sublessee shall pay to Sublessor as Additional Rental its proportionate share (i.e. the percentage determined from time to time by dividing the Net Rentable Area of the Subleased Premises by the total Net Rentable Area of the Prime Leased Premises - initially 32.69 %) of the amount, if any, by which Operating Expenses (as hereinafter defined) the Basic Cost for any calendar each such year exceed $1,545,147.50 ($6.50/rentable square foot exceeds the Base Year Basic Cost. e. Sublessee's proportionate share of the Buildings). The Additional Rental payable pursuant to this paragraph Rent shall be determinedpayable monthly commencing April 1, 1999, based on the estimates of Basic Cost being paid by Sublessor under Sections 5.04 and paid in accordance with the following procedures: (i) During each December 5.05 of the Lease TermPrime Lease. In the event of any adjustment to Sublessor's payments with respect to Basic Cost under Sections 5.06 or 5.07 of the Prime Lease, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant Sublessee shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Termreceive, as the case may be, a corresponding adjustment of its payments with respect to Basic Cost under this Paragraph. f. Sublessor shall be prorated based on provide to Sublessee, within fifteen (15) days after Sublessor's receipt thereof, copies of all estimates and statements received by Sublessor from Landlord with respect to the actual number amount or payment of days of Basic Cost for any year during the Lease Term during such calendar year. The expiration or termination term of this Lease Sublease. If Sublessor elects to exercise its right to audit the Landlord's books and records relating to Basic Cost, Sublessee shall not affect have the obligations right to examine the results of Landlord such audit. Sublessor further agrees that it will exercise its audit rights with respect to any years during the term of this Sublease upon Sublessee's written request, provided that Sublessee agrees to reimburse Sublessor for its actual out-of-pocket costs and Tenant to be performed after expenses incurred in connection with such expiration or termination, pursuant to this Article 7audit.

Appears in 1 contract

Samples: Sublease Agreement (Bindview Development Corp)

Additional Rental. In addition to Monthly Rental, Tenant shall paypay to Landlord, as Additional Rental,” all sums required to be paid by Tenant to Landlord pursuant to this Lease including, Tenant's ----------------- Percentage Share of the amountbut not limited to, if any, by which Operating Expenses (as hereinafter defined) defined below), interest and late charges. All payment obligations of Tenant under this Lease are deemed rent and Landlord shall have the same rights and remedies for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot the nonpayment of such rent, including Additional Rental, as it has with respect to the nonpayment of Monthly Rental. Except to the extent otherwise provided in this Lease, Tenant is solely responsible for all costs for the care, maintenance, taxes, insurance, utilities, repair and operating expenses of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures:Premises. (ia) During each December Tenant shall pay monthly installments of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before Operating Expenses on the first day of each month during month, in amounts specified in good faith by Landlord from time to time, which, by the ensuing end of each calendar year (or by the Expiration Date, if earlier), will total Landlord’s reasonable estimate of Operating Expenses to be incurred for such year. For partial years, the Operating Expenses will be calculated on a full-year basis and then prorated. If at any time Landlord incurs an unanticipated Operating Expense (or any other expense to be borne by Tenant under this Lease), Landlord may invoice Tenant for reimbursement of such expense any time after the expense is incurred, in which case Tenant shall pay to the amount so invoiced within 30 days after Landlord one-twelfth (1/12) of such estimated amounts together with delivers the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) invoice. As soon as is reasonably practicable after the close end of each calendar year during the Lease Termwhich Tenant paid Operating Expenses based on Landlord’s estimates as provided above, Landlord shall deliver to will furnish Tenant a reasonably detailed statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount (the “Statement”). Any amounts owing for that is less than the estimated payments actually made year shall, within thirty (30) days, be paid by Tenant for such calendar yearto Landlord. Any amounts overpaid shall, Landlord shall credit such excess to at Landlord’s option, be credited against the next payments installment(s) of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in estimated Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by and Monthly Rent due from Tenant, or be refunded to Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery the date of the statementStatement. The parties’ obligations with respect to payment or refund of any deficiency or overpayment shall survive termination or expiration of this Lease; provided that no Operating Expense payments shall be due from Tenant which are not billed to Tenant within one (1) year after the Expiration Date of this Lease, and provided further that Tenant’s failure to dispute the amount of any Operating Expense or reconciliation statement within 180 days after Tenant’s receipt of a reconciliation statement for the applicable calendar year, shall be deemed Tenant’s waiver to ever make a claim based on Operating Expenses for the applicable year. (iiib) As used in this Lease, the term “Operating Expenses” means any and all costs, expenses and disbursements of every kind and character that Landlord in good faith incurs, pays or becomes obligated to pay in connection with its ownership interest in the Property, or the operation, maintenance, management, repair, replacement, and security thereof; plus, with respect to such costs, expenses, and disbursements for the Property which do not exclusively pertain to the Property, the portion of such expenses which Landlord reasonably and equitably allocates to the Property. If this Lease before the Multi-Tenant Provisions become effective, there are any costs incurred in a single bxxx or contract (e.g., landscaping services) which benefit both the Property and the Adjacent Parcel, Landlord may allocate the costs of such items on an equitable basis to the Property and the Adjacent Parcel, and include that portion of the bxxx which is reasonably and equitably allocated to the Property in Operating Expenses. Operating Expenses include, without limitation, any and all assessments Landlord must pay pursuant to any covenants, conditions or restrictions, reciprocal easement agreements, tenancy-in-common agreements or similar restrictions and agreements affecting the Premises, Taxes (as defined below), assessments and other similar governmental charges; water and sewer charges; the cost and expense of insurance, including loss of rents coverage and all other coverage procured by Landlord, and any applicable deductibles (provided the same are commercially reasonable and to the extent in excess of $25,000, such deductibles shall commence, expire or terminate on be treated as a day Capital Expense (as defined below)); utilities (other than those paid directly by Tenant to the last day of utility provider); security; labor and personnel costs (including applicable overhead); parking lot maintenance and repair; a calendar year, management fee to Landlord or its agent in the amount of Additional Rental payable during the first or final calendar year 3.5% of the Lease TermMonthly Rental (the “Management Fee”); heating, ventilating and air conditioning repairs, replacements (which will be treated as Capital Items), and maintenance; waste disposal; elevator maintenance; repair, replacement (which replacements may, in certain circumstances described below, be treated as Capital Items), and maintenance of the case may beplumbing, heating, ventilating, air conditioning, electrical, life safety and building management systems furnished by Landlord (the “Building Systems”); costs associated with the upkeep and operation of all parking and Common Areas; costs and expenses of gardening and landscaping; maintenance of signs (other than costs incurred by Tenant to maintain Tenant’s signs); and personal property taxes levied on or attributable to personal property used in connection with the Property. As to Capital Expenses (as defined below), such expenses shall only be included in Operating Expenses if such Capital Items (as defined below) (i) are incurred in order for the Property to comply with Applicable Laws, (ii) can reasonably be anticipated to reduce Operating Expenses that would otherwise be incurred, or (iii) are determined by Landlord to be reasonably necessary to keep the Property in a first class condition based upon wear and tear of such items, but all such Capital Expenses shall be prorated based on amortized over the actual number reasonable useful life of days such improvement, replacement, repair or equipment as reasonably determined by Landlord (including an interest factor of the Lease Term during such calendar yearthen-applicable Prime Rate). The expiration or termination All Operating Expenses for Capital Items are "Capital Expenses.” For purposes of this Lease shall not affect Lease, the obligations of Landlord term “Capital Items” means those items that individually cost more than $50,000.00 that are considered capital repairs, replacements, improvements or equipment under generally accepted accounting principles consistently applied, and Tenant any insurance deductible to be performed after such expiration or termination, pursuant to this Article 7the extent exceeding $25,000.00.

Appears in 1 contract

Samples: Lease (Neurocrine Biosciences Inc)

Additional Rental. Tenant Lessee shall pay, pay to Lessor as additional rental (“Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses ” sometimes referred to as “Cost Pass Through” (“CPT” in every day language) Lessee’s share (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildingsincrease each year in Operating Expense (as hereinafter defined) over the Base Operating Expense (as hereinafter defined). “Lessee’s share shall equal that portion of such increase that the square footage of the Premises bears to all space available for lease in the Building. The term “Operating Expense” shall include all Lessor’s costs of operation, replacement and maintenance of the Building for each year including, but not limited to, all ad valorem taxes, premiums for insurance, management costs, utility charges, Building and parking lot security expense, parking lot maintenance expenses, janitorial and maintenance expenses, but shall not include the cost of capital improvements (such definition shall in no way increase Lessor’s obligations hereunder). The Additional Rental payable pursuant term “Base Operating Expense” shall mean the sum of $3.00 per square foot per calendar year. As soon as practical after December 31 of each calendar year, the Lessor shall deliver to this paragraph shall be determined, and paid in accordance with the following procedures: Lessee (i) During each December a statement of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 Operating Expenses for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar fiscal year just ended, until the month after such notice is given. (ii) As soon as practicable after the close a computation of each calendar year during the Lease TermLessee’s share of such Operating Expenses, Landlord shall deliver to Tenant and (iii) a statement of Additional Rentals, if any, payable by Lessee, hereinafter called the adjustments “Notice of Payment of Additional Rentals”. Lessee shall pay such Additional Rentals within ten (10) days after receipt of Notice of Payment of Additional Rentals. At Lessor’s option, Lessor may estimate the Additional Rentals and xxxx the Lessee monthly in advance for such Additional Rentals; and Lessee shall pay the same to be made for Lessor in advance, at the calendar year just ended. Such statement shall be final same time and binding upon Landlord and Tenant absent manifest errortogether with the monthly Base Rentals. If on the basis of such statement Tenant's Percentage Share monthly billing is elected by Lessor, and Lessee’s share of the actual increase in Operating Expenses for such the applicable calendar year is an amount that is less than exceeds the estimated payments actually made Additional Rentals paid by Tenant Lessee for such calendar year, Landlord Lessee shall credit pay such excess to the next payments within ten (10) days after receipt of Notice of Payment of Additional Rental coming dueRentals. If on the basis of such statement Tenant's Percentage Lessee’s Share of the actual increase in Operating Expenses for such the applicable calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other less than the last day of a Additional Rentals paid by Lessee for such calendar year, Lessor shall immediately credit and reduce Lessee’s current Additional Rental payments accordingly. All Additional Rentals for the amount calendar year in which the lease term terminates shall be due and payable upon receipt of Notice of Payment of Additional Rental payable during Rentals even if such Notice is received after the first or final lease termination date. With respect to the Additional Rentals, within sixty (60) days from the end of each calendar year of year, Lessee upon reasonable notice to Lessor, may have access to Lessor’s records to verify, at Lessee’s expense, the Lease Term, as Operating Expenses for the case may be, shall be prorated based on the actual number of days of the Lease Term during such applicable calendar year. The expiration or termination of this Lease base operating expense for the 902 square foot vault (G-102 Extension) shall not affect be $3.47 less ad valorem taxes per square foot per annum. Ad valorem taxes shall be paid directly by the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Lessee.

Appears in 1 contract

Samples: Lease Agreement (Radiation Therapy Services Holdings, Inc.)

Additional Rental. For calendar year 1998 and for each calendar year thereafter Tenant shall pay, pay as additional rental together with all sums other than Annual Rental payable by Tenant under this Lease (the "Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which ") for each Operating Expenses Expense Year (as hereinafter defined) for any calendar year exceed $1,545,147.50 Tenant's Share ($6.50/rentable square foot as hereinafter defined) of the Buildingsincrease, if any, in the direct expenses paid or incurred by Landlord for the operation, repair and maintenance of the Building, Building Parking Garage, other Common Building Facilities, and the Additional Parking Area ("Operating Expenses" as more fully defined in Exhibit D). The As of the Effective Date of this Lease, the total rentable area of the leasable space within the Building is 515,738 square feet; therefore, as of the Effective Date of this Lease, the Tenant's Share of Operating Expenses is three point nine-five percent (3.95%). Notwithstanding the foregoing, for purposes of calculating Additional Rental payable hereunder (i) the Operating Expenses for 1998 shall not exceed four percent (4%) of the Operating Expense Base, and (ii) the Operating Expenses for each Operating Expense Year following 1998 shall not exceed four percent (4%) of the Operating Expenses for the immediately preceding Operating Expense Year (as limited pursuant to this paragraph 4.02(a)); provided however that such limitation shall be determined, apply only to all Operating Expenses other than the real estate taxes and paid in accordance with assessments. In calculating the following procedures: (i) During each December maximum amount of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar yearTenants Share, the amount of actual real estate taxes and assessments shall first be deducted from Operating Expenses then the four percent (4%) limitation shall be applied to the remainder and then real estate taxes and assessments shall be added back and the sum of the above amounts shall be the Operating Expenses used in determining Tenant's Share of Operating Expenses; provided however that the amount of real estate taxes and assessments in 1998 shall not be in excess of ten percent (10%) more than the amount of 1997 taxes and for each year after 1998 shall not be in excess of ten percent (10%) of the amount for the prior year. Such Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and payable by Tenant to be performed after such expiration or termination, pursuant to this Article 7Landlord as hereinafter provided.

Appears in 1 contract

Samples: Lease Agreement (Continental Natural Gas Inc)

Additional Rental. (a) In addition to the Base Rental for each calendar year (or portion thereof) during the term of this Lease, Tenant shall pay, pay as additional rent (the “Additional Rental, ”) Tenant's ----------------- Percentage ’s Proportionate Share (as hereinafter defined) of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar that year exceed $1,545,147.50 ($6.50/rentable square foot in excess of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, Operating Expenses for the Base Year (as hereinafter defined) and paid in accordance with the following procedures: (i) During each December Tenant’s Proportionate Share of the Lease Term, or Real Estate Taxes (as soon thereafter hereinafter defined) in excess of the Base Real Estate Taxes (as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 hereinafter defined) for the ensuing calendar that year. On or before about the beginning of each calendar year during the term of this Lease, Landlord shall deliver to Tenant Landlord’s good faith estimate (the “Estimated Additional Rental”) of the Additional Rental for that year. The Estimated Additional Rental shall be paid in equal installments in advance on the first day of each month during the ensuing calendar month. If Landlord does not deliver an estimate to Tenant for any year by January 1 of that year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Estimated Additional Rental based on the prior year’s estimate. From time to time during the ensuing any calendar year on the basis of the amounts payable (but not more than twice during the any calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Termyear), Landlord shall deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding may, upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery prior written notice, revise its estimate of the statement. (iii) If this Lease Additional Rental for that year based on either actual or reasonably anticipated increases in Operating Expenses or Real Estate Taxes, and the monthly installments of Estimated Additional Rental shall commence, expire or terminate on a day other than be appropriately adjusted for the last day remainder of a calendar that year in accordance with the revised estimate so that by the end of the year, the total payments of Estimated Additional Rental paid by Tenant shall equal the amount of the revised estimate. The parties acknowledge and agree that during calendar year 2000, Tenant’s Estimated Additional Rental payable during the first or final calendar year shall be only Tenant’s Proportionate Share of the Lease Term, as the case may be, shall be prorated based on the actual number of days Real Estate Taxes in excess of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Base Real Estate Taxes.

Appears in 1 contract

Samples: Lease Agreement (Time Warner Telecom Inc)

Additional Rental. Tenant Lessee shall pay, pay to Lessor as additional rental (“Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses ” sometimes referred to as “Cost Pass Through” (“CPT” in every day language) Lessee’s share (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildingsincrease each year in Operating Expense (as hereinafter defined) over the Base Operating Expense (as hereinafter defined). “Lessee’s share shall equal that portion of such increase that the square footage of the Premises bears to all space available for lease in the Building. The term “Operating Expense” shall include all Lessor’s costs of operation, replacement and maintenance of the Building for each year including, but not limited to, all ad valorem taxes, premiums for insurance, management costs, utility charges. Building and parking lot security expense, parking lot maintenance expenses, janitorial and maintenance expenses, but shall not include the cost of capital improvements (such definition shall in no way increase Lessor’s obligations hereunder). The Additional Rental payable pursuant term “Base Operating Expense” shall mean the sum of $3.00 per square foot per calendar year. As soon as practical after December 31 of each calendar year, the Lessor shall deliver to this paragraph shall be determined, and paid in accordance with the following procedures: Lessee (i) During each December a statement of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 Operating Expenses for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis of the amounts payable during the calendar fiscal year just ended, until the month after such notice is given. (ii) As soon as practicable after the close a computation of each calendar year during the Lease TermLessee’s share of such Operating Expenses, Landlord shall deliver to Tenant and (iii) a statement of Additional Rentals, if any, payable by Lessee, hereinafter called the adjustments “Notice of Payment of Additional Rentals”. Lessee shall pay such Additional Rentals within ten (10) days after receipt of Notice of Payment of Additional Rentals. At Lessor’s option, Lessor may estimate the Additional Rentals and xxxx the Lessee monthly in advance for such Additional Rentals; and Lessee shall pay the same to be made for Lessor in advance, at the calendar year just ended. Such statement shall be final same time and binding upon Landlord and Tenant absent manifest errortogether with the monthly Base Rentals. If on the basis of such statement Tenant's Percentage Share monthly billing is elected by Lessor, and Lessee’s share of the actual increase in Operating Expenses for such the applicable calendar year is an amount that is less than exceeds the estimated payments actually made Additional Rentals paid by Tenant Lessee for such calendar year, Landlord Lessee shall credit pay such excess to the next payments within ten (10) days after receipt of Notice of Payment of Additional Rental coming dueRentals. If on the basis of such statement Tenant's Percentage Lessee’s Share of the actual increase in Operating Expenses for such the applicable calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate on a day other less than the last day of a Additional Rentals paid by Lessee for such calendar year, Lessor shall immediately credit and reduce Lessee’s current Additional Rental payments accordingly. All Additional Rentals for the amount calendar year in which the lease term terminates shall be due and payable upon receipt of Notice of Payment of Additional Rental payable during Rentals even if such Notice is received after the first or final lease termination date. With respect to the Additional Rentals, within sixty (60) days from the end of each calendar year of year, Lessee upon reasonable notice to Lessor, may have access to Lessor’s records to verify, at Lessee’s expense, the Lease Term, as Operating Expenses for the case may be, shall be prorated based on the actual number of days of the Lease Term during such applicable calendar year. The expiration or termination of this Lease base operating expense for the 902 square foot vault (G-102 Extension) shall not affect be $ 3.47 less ad valorem taxes per square foot per annum. Ad valorem taxes shall be paid directly by the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Lessee.

Appears in 1 contract

Samples: Lease Agreement (Radiation Therapy Services Holdings, Inc.)

Additional Rental. (a) Tenant shall payalso pay to the Landlord, as Additional RentalRent (“Additional Rent’) for each month of each Calendar Year, in addition to Base Rent and all other amounts herein required to be paid by Tenant's ----------------- Percentage Share , (i) an amount equal to one-twelfth of Tenant’s proportionate share (“Tenant’s Proportionate Share”) derived from a fraction using as the numerator the Rentable Area of the Demised Premises, and as the denominator, the Rentable Area of the Property (89,053 square feet) times the amount, if any, by which the aggregate of all Basic Operating Expenses Costs (as hereinafter defineddefined in Section 6) paid or incurred by Landlord on account of the management, operation and maintenance of the Property, and (ii) the annual taxes (“Taxes”) for any the Property. (b) The Tenant’s obligation under this Section 5 to pay Additional Rent shall be, from the Commencement Date of this Lease to the end of the first calendar year exceed year, be the sum of based on the estimated amount of $1,545,147.50 ($6.50/rentable 6.42 per square foot of space in the Buildings)Demised Premises, per year, payable monthly as provided for in Section 4 of this Lease. The Additional Rental payable pursuant foregoing amount is an estimate only and will be subject to this paragraph shall be determined, and paid in accordance with adjustment as provided for herein at the following procedures: (i) During end of each December of the Lease Term, or as soon thereafter as practicable, calendar year. Landlord shall give provide Tenant with a written notice estimated basic Operating Expenses statement (“Budgeted Basic Operating Expenses”) on or before December 1 of its estimate of Additional Rental payable under this Article 7 each calendar year indicating the Operating Expenses for the Property for the ensuing calendar year which will be billed to Tenant for its prorata share, in advance monthly commencing with January 1st of each calendar year. On or before By April 1st of each year Landlord shall provide Tenant with a written statement of the actual Operating Expenses (“Actual Basic Operating Expenses”) incurred by Landlord for the Property for the preceding calendar year. Such difference between the Actual Basic Operating Expenses for the Property incurred by Landlord and the Budgeted Basic Operating Expenses shall be payable by Tenant in a lump sum on the first day of each the month during the ensuing calendar year, following such written notice. Landlord will endeavor to provide Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year a written Budgeted Basic Operating Expenses statement and Actual Basic Operating Expense statement on the basis dates stated herein, but any failure by Landlord to do so shall not be a waiver of nor affect Landlord’s right to collect from Tenant any Additional Rent which is provided for herein. If in any year the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver Actual Basic Operating Expenses attributable to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Additional Rent Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenanthas paid, Tenant shall pay as Additional Rental receive a credit for such excess amount paid in the deficiency to Landlord within thirty (30) days after delivery form of a credit over the remainder of the statement. (iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or It is further agreed that the foregoing adjustment provisions shall survive the termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7Lease.

Appears in 1 contract

Samples: Lease Agreement (Secured Financial Network, Inc.)

Additional Rental. Tenant shall pay, as A. Xxxxxx further agrees to pay Additional Rental, Tenant's ----------------- Percentage Share of the amountin monthly installments, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before on the first day of each month during of the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year Term commencing on the basis first day of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) As soon as practicable after the close of each calendar year during the Lease Term, Landlord shall deliver to Tenant a statement of the adjustments to be made for following the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. set forth in Paragraph 1E. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement. (iii) If this Lease shall commence, expire or terminate Term ends on a day other than the last day of a calendar yearmonth, then, upon the amount first day of the last calendar month of the Term, Tenant will pay Landlord a portion of Additional Rental for such fractional month prorated based on a 30-day month. B. Additional Rental will be paid by Tenant to Landlord, without notice and without deduction or offset, in lawful money of the United States of America, at the Building office or to such other person and/or at such other place as Landlord may from time to time designate in a notice to Tenant. C. Landlord will try to give Tenant advance notice of Additional Rental payable by Txxxxx, but failure by Landlord to give advance notice is not a waiver by Landlord of its right to receive from Tenant any Additional Rental. In addition, Landlord may, but is not required to, at or after the start of the calendar year following the calendar year set forth in Paragraph 1E, notify Tenant of Landlord's estimate of Txxxxx's liability for Additional Rental for the ensuing year, which amount will be divided into twelve (12) equal portions and added to the monthly payments of rent required to be made by Tenant in such year. If Tenant's actual payment of Additional Rental is finally determined by Landlord to be greater or less than the total amounts actually paid by Tenant pursuant to this paragraph during the first applicable year ("Landlord's Statement"), a credit or final calendar year of the Lease Termpayment will be made by Landlord or Tenant, as whichever the case may be, within the thirty (30) days following the issuance of Landlord's Statement. Upon written request by Txxxxx within thirty (30) days of issuance of Landlord's Statement, Landlord will make its prior year records pertaining to Direct Expenses available to Tenant to allow Tenant, at its sole cost and expense, to verify their accuracy. Absent such request, Lxxxxxxx's Statement shall be prorated based final as to such year. D. Direct Expenses include all costs of operation and maintenance of the Building as determined by Landlord including, but not limited to, the following costs by way of illustration only: premiums for property, casualty, liability, rent interruption or any other insurance carried by Landlord; salaries, wages and other amounts paid or payable for personnel including the Building manager, superintendent, operation and maintenance staff, and other employees of Landlord involved in the maintenance, management and operation of the Building, including contributions and premiums towards fringe benefits, unemployment, disability insurance, worker's compensation insurance, pension plan contributions and similar premiums and contributions and the total charges of any independent contractors or property managers engaged in the operation; repair, care, maintenance and cleaning of any portion of the Building; fair market rental and other costs with respect to Building Management office; costs of accounting services incurred in the preparation of statements and financial reports, audit fees; cleaning expenses, including without limitation janitorial services, window cleaning and garbage and refuse removal; landscaping expenses, including without limitation irrigating, trimming, fertilizing, replacing plants and floral arrangements; heating, plumbing, mechanical, elevator, sprinklers, fire/life safety systems, security and energy management systems and steam/utilities expenses, including fuel, gas, electricity, water, sewer, telephone, advertising, public relations, tenant relations and activities and other services, maintaining, operating and repairing components of any equipment or machinery used in connection with the Building, and the rental of same or any office or other equipment for the management of the Building; any other items of repair and maintenance of the Building; intrabuilding network cabling and riser maintenance and repair; cost of policing, security and supervision of the Building; audit and accounting fees; any capital improvements (or amortization thereof) (i) made primarily to reduce Direct Expenses or to comply with governmental requirements, (ii) for replacements (as opposed to additions or new improvements) of nonstructural items located in the common areas of the Property required to keep such areas in good condition or (iii) expenditures that are consistent with Direct Expenses as defined above, although the benefits of the expenditures survive the current year; payments under any easement, operating agreement, declaration, restrictive covenant or instrument pertaining to sharing of costs in a planned development; fee for administration and management of the building as determined by Landlord. Direct Expenses do not include depreciation on the actual number of days Building loan payments, real estate brokerage commissions, and costs directly attributed to one tenant and not to other tenants of the Lease Building generally. Permitted capital improvements and repairs may be amortized in the Landlord's reasonable discretion over: (i) their useful lives, (ii) the period during which capital improvements reduce Direct Expenses or (iii) three (3) years. Landlord may allocate costs of operation and maintenance between the building where the Premises are located and other properties owned by landlord or its affiliates and under common management, as determined by landlord in the exercise of its reasonable discretion. Similarly, Landlord may make other allocations of Direct Expenses in accordance with sound management and accounting principles. E. Direct Tax Expenses include all real property taxes and annual installments of real estate assessments on the Building; personal property taxes on personal property of Landlord used in the operation or maintenance of the Building; supplemental assessments that may result from changes in ownership or from the completion of new construction; escape assessments; taxes on the gross or net rental income of Landlord derived from the Building (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources); impositions created to pay for or supplement the cost of governmental services that the Building or its tenants may use; transit or transportation charges; housing subsidies and/or housing fund assessments; possessory interest taxes; business or license taxes or fees; job training subsidies and/or assessments; open space charges; excises; business or other license or use fees; and the reasonable costs of contesting by appropriate proceedings the amount or validity of any of the foregoing. If, during the Term of this Lease, the present real property tax is wholly or partly replaced or supplemented by another form of tax, there will be included within the definition of Direct Tax Expenses any such tax, levy, or assessment (other than federal, state, or city and county net income taxes or estate, gift, or other similar taxes) that, whether or not now customary or within the contemplation of the parties to this Lease, may be charged to Landlord and is by way of example and not limitation (i) levied upon, allocable to, or measured by the Rent payable hereunder; (ii) levied upon the business of owning and operating rental properties to the extent such tax is applicable to the Premises; (iii) levied upon or with respect to the possession, leasing, operation, management, or occupancy by Tenant of the Premises or any portion thereof, or (iv) levied upon or measured by the value of Tenant's personal property or leasehold improvements. Direct Tax Expenses also include all expenses incurred, including attorneys' and consultants' fees, in seeking a reassessment, reduction of, or limit on the increase in any Direct Tax Expenses, whether or not successful. Property taxes for any calendar year shall include property taxes which are due for payment as well as those paid in such year. F. If the Building rentable square footage is not one hundred percent (100%) occupied during such an entire calendar year, including the Base Year, then the variable component of Direct Expenses and Direct Tax Expenses will be equitably adjusted so that the total amount of Direct Tax Expenses and Direct Expenses equals the amount which would have been paid or incurred by Landlord had the Building been one hundred percent (100%) occupied for the entire calendar year. The expiration or termination In no event will Landlord be entitled to receive from Tenant and the other tenants in the Building an aggregate amount in excess of this Lease shall not affect actual Direct Expenses and Direct Tax Expenses as a result of the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7foregoing provision.

Appears in 1 contract

Samples: Office Lease (Bf Enterprises Inc)

Additional Rental. In addition to Minimum Annual Rental, Tenant shall paypay to Landlord when due each sum of money required to be paid pursuant to this Article 5, Article 16, Article 18, and any other portion of this Lease as additional rent, whether or not the same is designated as additional rent. In addition to the Minimum Annual Rent payable hereunder, Tenant shall pay Landlord as “Additional Rental, Rent” for each calendar year following the Base Year or each portion thereof during the Term Tenant's ----------------- Percentage ’s Share of the amount, sum of (x) the amount (if any, ) by which Operating Expenses Costs for such period exceed Base Operating Costs, and (as hereinafter definedy) the amount (if any) by which Premises Taxes for any such period exceed Base Taxes. Prior to the end of the Base Year and each calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following procedures: (i) During each December of the Lease Term, or as soon thereafter as practicablethereafter, Landlord shall give notify Tenant written notice of its Landlord’s estimate of Operating Costs, Premises Taxes and Tenant’s Additional Rental payable under this Article 7 Rent for the ensuing following calendar year. On or before Commencing on the first day of January of each calendar year following the Base Year and continuing on the first day of every month during the ensuing calendar thereafter in such year, Tenant shall pay to Landlord one-twelfth (1/121/12th) of the estimated Additional Rent. If Landlord thereafter estimates that Operating Costs or Premises Taxes for such estimated amounts together with year will vary from Landlord’s prior estimate, Landlord may, by notice to Tenant, revise the Base Rental, provided that if estimate for such notice is not given in December, Tenant year (and Additional Rent shall continue to pay such Additional Rental during the ensuing calendar year thereafter be payable based on the basis of the amounts payable during the calendar year just ended, until the month after such notice is given. (ii) revised estimate). As soon as reasonably practicable after the close end of the Base Year and each calendar year during the Lease Termthereafter, Landlord shall deliver to furnish Tenant a statement of the adjustments with respect to be made such year, showing Operating Costs, Premises Taxes and Additional Rent for the calendar year just ended. Such statement shall be final year, and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated total payments actually made by Tenant for such calendar year, Landlord shall credit such excess with respect thereto (“Expense Statement”). Unless Tenant raises any objections to the next payments of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord Landlord’s Expense Statement within thirty ninety (3090) days after delivery receipt of the statement. (iii) If this Lease same, such Expense Statement shall commence, expire conclusively be deemed correct and Tenant shall have no right thereafter to dispute such Expense Statement or terminate on a day other than any item therein or the last day of a calendar year, the amount computation of Additional Rental payable during the first or final calendar year Rent based thereon. If Tenant does object to such Expense Statement, then Landlord shall provide Tenant with reasonable verification of the Lease Term, as the case may be, shall be prorated based figures shown on the actual number of days of Expense Statement and the Parties shall negotiate in good faith to resolve any 9 Landlord /s/ RS____ CA Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Revision 8.0 – Torrey Hills Corporate Center Tenant to be performed after such expiration or termination, pursuant to this Article 7./s/ KA____ Skye Bioscience Lease

Appears in 1 contract

Samples: Office Lease (Skye Bioscience, Inc.)

Additional Rental. (a) Additional Rental shall include Tenant's Proportionate Share of Excess Operating Expenses for a particular Lease Year or portion thereof which Tenant shall pay, pay Landlord as Additional Rental, Tenant's ----------------- Percentage Share of the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental payable pursuant to this paragraph shall be determined, and paid in accordance with the following proceduresfollows: (i) During For the first Lease Year during the term of this Lease, Tenant shall pay to Landlord each December of the Lease Termmonth, or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of Additional Rental payable under this Article 7 for the ensuing calendar year. On or before on the first day of each month during following the ensuing calendar yearCommencement Date of Lease, in lawful money of the United States of America, an amount equal to Landlord's estimate of Tenant's Proportionate Share of Excess Operating Expenses for the Lease Year divided by the number of months remaining in such Lease Year; and for each Lease Year thereafter Tenant shall pay to Landlord each month, on the first day of each month following the Commencement Date of Lease, in lawful money of the United States of America, an amount equal to one-twelfth (1/12) of such the then estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year on the basis Tenant's Proportionate Share of the amounts payable during the calendar year just ended, until the month after such notice is givenExcess Operating Expenses. (ii) As Operating Expenses for each Lease Year shall be estimated by Landlord, from which Landlord shall estimate Tenant's Proportionate Share of Excess Operating Expenses, and written notice of such estimate of Tenant's Proportionate Share of Excess Operating Expenses shall be given to Tenant as soon as practicable reasonably possible on or before the beginning of each Lease Year. (iii) If Operating Expenses increase during a Lease Year, Landlord may revise its estimate of Tenant's Proportionate Share of Excess Operating Expenses during such year by giving Tenant written notice to that effect, and thereafter Tenant shall pay to Landlord, in each of the remaining months of such Lease Year, the increased Tenant's Proportionate Share of Excess Operating Expenses divided by the number of months remaining in such year. (iv) Within one hundred twenty (120) days after the close end of each calendar year during the Lease TermYear, Landlord shall prepare and deliver to Tenant a statement showing the actual amount of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest errorTenant's Proportionate Share of Excess Operating Expenses. If on the basis actual amount of such statement Tenant's Percentage Proportionate Share of Excess Operating Expenses incurred in respect of any Lease Year exceeds the actual increase in estimate of Tenant's Estimated Proportionate Share of Excess Operating Expenses for such calendar year is an Lease Year, then Tenant shall pay to Landlord the amount that of such difference within twenty (20) days following receipt of notice from Landlord setting forth the actual amount of Tenant's Proportionate Share of Excess Operating Expenses in respect of such Lease Year. If the actual amount of Tenant's Proportionate Share of Excess Operating Expenses in respect of any Lease Year is less than the estimated payments actually made by Tenant for such calendar year, Landlord shall credit such excess to the next payments estimate of Additional Rental coming due. If on the basis of such statement Tenant's Percentage Proportionate Share of the actual increase in Excess Operating Expenses for such Lease Year, then, provided that Tenant is not then in default in the performance of its obligations under the Lease, Landlord shall refund to Tenant such difference promptly following its determination. If the last Lease Year is a fractional calendar year is an amount greater year, then Landlord shall adjust the Proportionate Share of Excess Operating Expenses to reflect the number of months (including fractional months) in such fractional Lease Year, as appropriate to reflect any proration of Operating Expenses. (v) Any delay by Landlord in delivering any estimate or statement pursuant to this Section shall not relieve Tenant of its obligations pursuant to this Section, except that Tenant shall not be obligated to make any payments based on such estimate or statement until thirty (30) days after receipt of such estimate or statement. (b) Additional Rental shall also include, and Tenant shall pay as Additional Rental, a reasonable charge determined by Landlord for any services required to be provided by Landlord by reason of any use by Tenant of any services in excess of services customarily provided by Landlord to all other tenants in the estimated payments actually Building or by reason of any use of the Premises by Tenant at any time other than Normal Business Hours. Tenant shall pay for any additional or unusual janitorial services required by reason of Tenant's use of the Premises or by reason of improvements in the Premises other than Building Standard Improvements and any repairs required to be made to the Building due to the unusual use of the Building by Tenant or its agents or invitees within thirty (30) days of being billed by Landlord. If improvements in the Premises other than Building Standard Improvements or Tenant's use or the conduct of business on the Premises or in the Building, whether or not with Landlord's consent and whether or not otherwise permitted by this Lease, results in any increase in ad valorem taxes (not separately assessed) or in premiums for the fire and liability insurance or any other insurance coverage carried by Landlord with respect to the Building or its contents, Tenant shall pay as Additional Rental the deficiency any such increase in taxes or premiums (as reasonably allocated by Landlord) within ten (10) days after being billed by Landlord. (c) Provided that Tenant is not default under this Lease and submits written notice to Landlord no later than sixty (60) days following the furnishing to Tenant of the statement described in Subsection (iv) above, Tenant or its representative shall have the right to examine Landlord's accounting records pertaining to that statement within a reasonable period after the giving of such notice and during normal business hours at the place or places where such records are normally kept. Tenant may take exception to matters included in Operating Expenses, or Landlord's computation of any component thereof, by sending notice specifying such exception and the reasons therefore to Landlord no later than thirty (30) days after delivery Landlord makes such records available for examination. Tenant shall pay the costs for such examination unless it is subsequently determined that Landlord's original statement was in error to Tenant's disadvantage by more than five percent (5%) of the statement. (iii) If this Lease Excess Operating Expenses allocable to Tenant as Tenant's Proportionate Share, in which event Landlord shall commence, expire reimburse Tenant for its reasonable out-of-pocket costs incurred in performing the inspection. Any amounts which are determined to have been underpaid by Tenant shall be promptly remitted by Tenant to Landlord and any amounts overpaid by Tenant shall be credited against the Base Rental next owed by Tenant or terminate on a day other than promptly reimbursed to Tenant at the last day of a calendar year, the amount of Additional Rental payable during the first or final calendar year end of the Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such expiration or termination, pursuant to this Article 7.

Appears in 1 contract

Samples: Standard Office Lease (Payment Data Systems Inc)

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