Annual Calculation. Within 30 days of the end of the fiscal ------------------ year of Source, Source shall submit to WAL a statement setting forth the actual fees (the "Actual Rental") for the Sublet Facility, calculated as the product of (i) the total rental obligations and Expenses of Source for the Phoenix Facility and (ii) (A) the actual square footage comprising the Sublet Facility (as adjusted if necessary pursuant to Section 1.01(b)) divided by (B) the total square footage of the Phoenix Facility. In the event the Actual Rental exceeds the aggregate Monthly Rental and Expenses payments received by Source from WAL in respect of the fiscal year, WAL shall remit to Source, within 30 days of receipt of the statement, the difference between said amounts. In the event the Actual Rental is less than the aggregate Monthly Rental and Expenses payments received by Source from WAL in respect of the fiscal year, Source shall have no obligation to refund, rebate, credit or offset such amounts for the benefit of WAL, provided, however, that in the event the Actual Rental is less than the -------- ------- aggregate Monthly Rental and Expenses payments received by Source from WAL in respect of the fiscal year as a result of the square footage comprising the Sublet Facility having been reduced at Source's request, Source shall credit (or, in the case of the last year of this Agreement, refund) WAL with the difference.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (National Data Corp), Agreement and Plan of Merger (National Data Corp)
Annual Calculation. Within 30 days of the end of the fiscal ------------------ year of SourcePMSI, Source PMSI shall submit to WAL a statement setting forth the actual fees (the "Actual Rental") for the Sublet Facility, calculated as the product of (i) the total rental obligations and Expenses of Source PMSI for the Phoenix Facility and (ii) (A) the actual square footage comprising the Sublet Facility (as adjusted if necessary pursuant to Section 1.01(b)) divided by (B) the total square footage of the Phoenix Facility. In the event the Actual Rental exceeds the aggregate Monthly Rental and Expenses payments received by Source PMSI from WAL in respect of the fiscal year, WAL shall remit to SourcePMSI, within 30 days of receipt of the statement, the difference between said amounts. In the event the Actual Rental is less than the aggregate Monthly Rental and Expenses payments received by Source PMSI from WAL in respect of the fiscal year, Source PMSI shall have no obligation to refund, rebate, credit or offset such amounts for the benefit of WAL, provided, however, that in -------- ------- the event the Actual Rental is less than the -------- ------- aggregate Monthly Rental and Expenses payments received by Source PMSI from WAL in respect of the fiscal year as a result of the square footage comprising the Sublet Facility having been reduced at SourcePMSI's request, Source PMSI shall credit (or, in the case of the last year of this Agreement, refund) WAL with the difference.
Appears in 2 contracts
Samples: Agreement and Plan of Merger (National Data Corp), Agreement and Plan of Merger (National Data Corp)
