Common use of Annual Reconciliation Clause in Contracts

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating Year ("YEAR END STATEMENT"). If the total of such monthly remittances on account of any Operating Year is greater than Tenant's Percentage Share of the actual Building Operating Costs for such Operating Year, then, provided there is not an Event of Default nor an event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent due hereunder, except that if such difference is determined after the end of the term hereof, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord. If the total of such remittances is less than Tenant's Percentage Share of the actual Building Operating Costs for such Operating Year, Tenant shall pay the difference to Landlord within thirty (30) days of Tenant's receipt of an invoice therefor. Landlord's estimate of Building Operating Costs for the next Operating Year shall be based upon the actual Building Operating Costs for the prior Operating Year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating fiscal year (“Year ("YEAR END STATEMENT"End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, provided there is not an no Event of Default has occurred nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord. If the total of such remittances is less than Tenant's Percentage Xxxxxx’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty ten (3010) days of Tenant's ’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs. The provisions of this Section 5.2(d) shall survive the expiration or earlier termination of this Lease.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such fiscal year (“Year End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder; provided, however, that if Landlord shall fail to provide the Year End Statement to Tenant within twelve (12) months from the date such Year End Statement is due, then Tenant shall not be obligated to pay Landlord for any Operating Costs that were under-billed by Landlord during the fiscal year to which such Year ("YEAR END STATEMENT")End Statement applies. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, provided there is not an no Event of Default nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to LandlordLandlord (it being understood and agreed that if Tenant cures any default prior to the expiration of the notice and/or cure periods set forth in Section 18.1 below, Tenant shall then be entitled to take such credit). If the total of such remittances is less than Tenant's Percentage Xxxxxx’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty (30) days of Tenant's Xxxxxx’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building the Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating fiscal year (“Year End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder, provided, however, Landlord shall be deemed to have waived any costs actually incurred but not billed to Tenant within two ("YEAR END STATEMENT")2) years after the end of the fiscal year in which such cost was incurred by Landlord. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, provided there is not an no Event of Default nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, is then continuing (it being understood and agreed that if Tenant cures any default(s) within the applicable cure period(s) provided in Section 20 below, then Tenant shall thereafter be entitled to take such credit), Tenant may credit the difference against the next installment installment(s) of Yearly Additional Rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord. If the total of such remittances is less than Tenant's Percentage Xxxxxx’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as Additional Rent hereunder, within thirty (30) days of Tenant's ’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs, if any. The provisions of this Section 5.2(d) shall survive the expiration or earlier termination of this Lease.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) Within ninety days after the end of each Operating Lease Year, deliver Concessionaire shall prepare and submit to Tenant the Authority a reasonably detailed statement written accounting of the actual amount of Building Operating Costs its total Gross Revenues for such Operating Year ("YEAR END STATEMENT")Lease Year. Such accounting shall be prepared in accordance with generally accepted accounting principles, shall be in such detail and on such forms as-may be acceptable to the Authority, and shall be certified to be correct by Concessionaire's chief financial officer or by an independent Certified Public Accountant. If the total rents previously paid by Concessionaire for such Lease Year exceed the greater of (i) the Minimum Annual Guarantee for such monthly remittances on account Lease Year, or (ii) the amount of Percentage Rents calculated under Subparagraph 2(B) hereof for such Lease Year, such excess shall be credited by the Authority to any Operating Year is greater than Tenant's Percentage Share obligation of the actual Building Operating Costs for such Operating YearConcessionaire which is then due or coming due, then, provided there is not an Event or if the Term hereof has expired and all of Default nor an event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent due hereunder, except that if such difference is determined after the end of the term hereof, Landlord shall refund such difference to Tenant within thirty (30) days after such determination Concessionaire's obligations to the extent that Authority have been satisfied in full, the Authority shall pay such difference exceeds any amounts then due from Tenant excess to LandlordConcessionaire. If the total of rents previously paid by Concessionaire for such remittances is Lease Year are less than Tenant's Percentage Share the greater of (i) the actual Building Operating Costs Minimum Annual Guarantee for such Operating Lease Year, Tenant shall pay or (ii) the difference amount of Percentage Rents calculated under Subparagraph 2(B) hereof for such Lease Year, Concessionaire will remit the deficiency to Landlord within thirty (30) days of Tenant's receipt of an invoice therefor. Landlord's estimate of Building Operating Costs for the next Operating Year shall be based upon the actual Building Operating Costs for the prior Operating Year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating CostsAuthority with such accounting.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating Year ("YEAR END STATEMENT"the “Year End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any Operating Year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Year, then, provided there is not an no Event of Default nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of DefaultDefault (it being understood and agreed that if Tenant cures all defaults before the expiration of applicable grace period(s), Tenant then shall be entitled to such credit or refund, as the case may be), Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord. If the total of such remittances is less than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty ten (3010) days of Tenant's ’s receipt of an invoice therefor. Landlord's ’s estimate of Building the Operating Costs for the next Operating Year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs. The provisions of this Section 5.2(h) shall survive the expiration or earlier termination of this Lease.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating fiscal year (“Year ("YEAR END STATEMENT"End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, provided there is not an no Event of Default nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to LandlordLandlord (it being understood and agreed that if Tenant cures any default prior to the expiration of the notice and/or cure periods set forth in Section 20.1 below, Tenant shall then be entitled to take such credit). If the total of such remittances is less than Tenant's Percentage Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty (30) days of Tenant's ’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building the Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating fiscal year (“Year ("YEAR END STATEMENT"End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, then provided there is not an no Event of Default nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunder, except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to LandlordLandlord (it being understood and agreed that if Tenant cures any default prior to the expiration of the notice and/or cure periods set forth in Section 20.1 below, Tenant shall then be entitled to take such credit). If the total of such remittances is less than Tenant's Percentage Xxxxxx’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty ten (3010) days of Tenant's ’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end By June 30th of each Operating Year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating Year ("YEAR END STATEMENT"). If the total of such monthly remittances on account of any Operating Year is greater than Tenant's Percentage Share of the actual Building Operating Costs for such Operating Year, then, provided there is not an Event of Default nor an event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent due hereunder, except that if such difference is determined after the end of the term hereofcalendar year, Landlord shall furnish Tenant with an accounting of actual and accrued Operating Expenses and Tax Expenses; provided, failure by Landlord to give such accounting by such date shall not constitute a waiver by Landlord of its right to collect any underpayment by Tenant at any time. Within thirty (30) days of Landlord’s delivery of such accounting, Tenant shall pay to Landlord the amount of any underpayment. Landlord shall credit the amount of any overpayment by Tenant toward the next estimated monthly installment(s) falling due, or if the Term of the Lease has expired, refund such difference the amount of overpayment to Tenant within as soon as possible thereafter, not to exceed thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlorddate of the accounting. If the total Term of the Lease expires prior to the annual reconciliation of expenses Landlord shall have the right to reasonably estimate Tenant’s Share of such remittances is less than expenses, and deduct any underpayment from Tenant's Percentage ’s Security Deposit; provided that if Landlord’s final accounting for such year shows an overpayment by Tenant, Landlord shall promptly refund the such overpayment to Tenant. Failure by Landlord to accurately estimate Tenant’s Share of such expenses or to otherwise perform such reconciliation shall not constitute a waiver of Landlord’s right to collect any underpayment at any time during the actual Building Operating Costs Term or after the expiration or earlier termination of this Lease, provided, however, that Landlord shall not be able to collect any underpayment if Landlord fails to submit an accounting for any calendar year during the Term within twenty-four (24) months after the last day of such Operating Year, Tenant shall pay the difference to Landlord within thirty (30) days of Tenant's receipt of an invoice therefor. Landlord's estimate of Building Operating Costs for the next Operating Year shall be based upon the actual Building Operating Costs for the prior Operating Year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costscalendar year.

Annual Reconciliation. Landlord shall, within one hundred twenty (120) days after the end of each Operating Yearfiscal year, deliver to Tenant a reasonably detailed statement of the actual amount of Building Operating Costs for such Operating fiscal year (“Year ("YEAR END STATEMENT"End Statement”). Failure of Landlord to provide the Year End Statement within the time prescribed shall not relieve Tenant from its obligations hereunder. If the total of such monthly remittances on account of any Operating Year fiscal year is greater than Tenant's Percentage ’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, then, provided there is not an no Event of Default has occurred nor an any event which, with the passage of time and/or the giving of notice would constitute an Event of Default, Tenant may credit the difference against the next installment of Yearly Rent additional rent on account of Operating Costs due hereunderhereunder (it being understood that if Tenant shall cure any such default within applicable notice and/or cure periods provided in Section 20.1 below, then Tenant shall thereafter be entitled to take such credit), except that if such difference is determined after the end of the term hereofTerm, Landlord shall refund such difference to Tenant within thirty (30) days after such determination to the extent that such difference exceeds any amounts then due from Tenant to Landlord. If the total of such remittances is less than Tenant's Percentage Xxxxxx’s Share of the actual Building Operating Costs actually incurred for such Operating Yearfiscal year, Tenant shall pay the difference to Landlord Landlord, as additional rent hereunder, within thirty (30) days of Tenant's ’s receipt of an invoice therefor. Landlord's Xxxxxxxx’s estimate of Building Operating Costs for the next Operating Year fiscal year shall be based upon the actual Building Operating Costs actually incurred for the prior Operating Year fiscal year as reflected in the Year-End Statement plus a reasonable adjustment based upon estimated increases or decreases in Building Operating Costs. The provisions of this Section 5.2(d) shall survive the expiration or earlier termination of this Lease.