Common use of Base Rent Adjustment Clause in Contracts

Base Rent Adjustment. The amount of the Base Rent shall be increased as of January 1 of each calendar year of the Lease Term to equal the Base Rent stated in item 15 of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent for such Lease Year by (ii) the Percentage Increase determined as of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Section. Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days prior to the date on which the increase in Base Rent becomes effective or, if Landlord is not reasonably able to determine such amounts by such time, promptly following the time when such amounts can reasonably be determined. Tenant covenants and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord in a lump sum any difference arising with respect to Base Rent payments made by Tenant for the calendar year in question prior to the date of Tenant's receipt of such notice. Notwithstanding anything contained herein to the contrary, in no event shall the Base Rent Adjustment contemplated hereby result in an increase in Base Rent of less than two (2%) percent of the Base Rent payable by Tenant prior to such adjustment date.

Base Rent Adjustment. The amount of the Base Rent shall be increased as subject to upward revision at the beginning of January 1 of each calendar every lease year of during the Lease Term to equal compensate for increases in property taxes, insurance premiums, including but not limited to, fire and other casualty insurance and public liability insurance, utilities, and the Base Rent stated in item 15 operating costs of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent for such Lease Year by (ii) Building or as the Percentage Increase determined as of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Section. Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days prior same relate only to the date on which the increase in Base Rent becomes effective or, if Landlord is not reasonably able to determine such amounts by such time, promptly following the time when such amounts can reasonably be determinedseparate building at 0000 Xxxxx Xxxxxx Xxxx. Tenant covenants The Building property taxes and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month insurance premiums for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at 2024 and the rate in effect prior to the date of adjustment until notified operating costs of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord in a lump sum any difference arising with respect to Base Rent payments made by Tenant Building for the calendar year in question prior which this Lease commences shall be considered the “Base Year” Building Costs. The operating costs shall be determined on a cash basis and shall be determined by taking into account the maintenance cost of the property, utilities, management costs, including all labor costs involved in the operation and maintenance of the buildings, and all other costs which can properly and reasonably be considered expenses of operating, but excluding property additions and capital improvements, alterations for tenants, depreciation, interest, income taxes and administrative costs not specifically incurred in the operation of the Buildings. To determine the Tenant’s share of the increase with respect to the date of Tenant's receipt of such notice. Notwithstanding anything contained herein to the contraryabove expenses, in no event shall if any, the Base Rent Adjustment contemplated hereby result in an increase in Base Rent of less than two (2%) percent Year operating costs shall be subtracted from the applicable Comparison Year costs and the remainder, if positive, shall be multiplied by the Tenant’s pro-rata portion. Property taxes shall include all taxes or special assessments levied on the real estate and improvements of the Landlord at the Building. The total of the Building’s property taxes, insurance premiums, utility, and operating costs, collectively the “Building Costs”, shall be divided by the number of rentable square feet in the Building to determine the Building Costs per square foot. If the Building Costs paid or incurred by the Landlord for the Comparison Year on account of the operation or maintenance of the Building of which the Premises are a part are in excess of the Building Costs paid or incurred for the Base Rent payable Year, then the Tenant shall pay a pro-rata portion of the increase calculated by Tenant prior to such adjustment date.dividing the rentable area of the Premises by the rentable area of the Building of which Tenant’s Premises are a part and multiplying the resulting percentage by the amount of the total Building Cost increase. The Tenant’s pro-rata portions shall be defined further as follows:

Base Rent Adjustment. The amount "BASE RENT ADJUSTMENT" for each calendar year will equal the product of (a) the Net Rentable Area of the Premises, times (b) a rate per annum per square foot of Net Rentable Area equal to the sum of (i) the excess, if any, of the rate of Operating Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Operating Costs Base Rate, (ii) the excess, if any, of the rate of Tax Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Tax Costs Base Rate, and (iii) the excess, if any, of the rate of Utilities Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Utilities Costs Base Rate. Effective on any change in the Net Rentable Area of the Premises or the Building in accordance with this Lease, the calculation of the Base Rent shall be increased as of Adjustment will change accordingly. The Base Rent Adjustment will never lower Base Rent below the amount specified in the Basic Lease Information. Prior to January 1 of each calendar year after the Base Year (or as soon thereafter as reasonably practical), Landlord will provide an estimate of the Lease Term to equal the Base Rent stated Adjustment for the forthcoming calendar year, and the Monthly Rent Installments due thereafter will be adjusted to reflect the Base Rent Adjustment so estimated by Landlord. By June 1 of each calendar year, or as soon thereafter as reasonably practical, Landlord will furnish to Tenant a statement (the "ANNUAL STATEMENT") showing in item 15 reasonable detail the calculation of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent Adjustment for such Lease Year the immediately preceding calendar year and comparing the actual Base Rent Adjustment to the estimated Base Rent Adjustment actually paid by (ii) Tenant. If the Percentage Increase determined as estimated Base Rent Adjustment paid is less than the actual Base Rent Adjustment reflected on the Annual Statement, Tenant must pay Landlord the amount of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Section. Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days prior to the date on which the increase in Base Rent becomes effective or, if Landlord is not reasonably able to determine such amounts by such time, promptly following the time when such amounts can reasonably be determined. Tenant covenants and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord deficit in a lump sum any difference arising with respect to no later than thirty (30) days after receipt of the Annual Statement. If the estimated Base Rent payments made by Adjustment paid is greater than the actual Base Rent Adjustment reflected on the Annual Statement, Landlord will allow Tenant equal monthly credits against the Monthly Rent Installments due for the remainder of the then current calendar year in question prior an aggregate amount equal to the date surplus, or if Landlord so chooses, Landlord will pay Tenant the amount of Tenant's receipt the surplus in a lump sum within thirty (30) days after delivery of such noticethe Annual Statement. Notwithstanding anything contained herein to In calculating any surplus or deficit owed for any calendar year in which the contraryTerm expires, in no event shall the Base Rent Adjustment contemplated hereby result will be prorated in an increase proportion to the number of days elapsed during the Term in Base Rent of less than two (2%) percent of the Base Rent payable by Tenant prior to such adjustment datethat calendar year.

Base Rent Adjustment. The amount Landlord shall, within one hundred twenty (120) days after the end of each Operating Period, furnish Tenant with a statement of the Operating Expenses during such year and a computation of the Base Rent Adjustment (“Expense Statement”). Failure of Landlord to provide such statement within such time period shall not be a waiver of Landlord’s right to collect any Base Rent Adjustment. If such statement shows that the actual amount Tenant owes is more than the estimated Base Rent Adjustment paid by Tenant, Tenant shall pay the difference within fifteen (15) days after Tenant’s receipt of the Expense Statement. If the Expense Statement shows that Tenant paid more than the actual amount owed Tenant shall receive a credit therefor, or if this Lease has expired, such amount shall refunded to Tenant. Any credit shall be increased as of January 1 of each calendar year of the Lease Term applied to equal future monthly payments attributable to the Base Rent stated in item 15 Adjustment. Unless adjusted as a result of an audit by Tenant conducted pursuant to the Summary express terms of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such this Lease, the Operating Expenses and Base Rent for such Lease Year by (ii) Adjustment set forth in the Percentage Increase determined as of the date of adjustment; providedExpense Statement shall be binding upon Tenant. Provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue in the event that the Term of this Section. Lease expires, or is terminated pursuant to the terms of this Lease, on a date other than December 31, then, at the option of Landlord, Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days may, either prior to the date on which the increase in Base Rent becomes effective orTerm expires, if Landlord is not reasonably able or within thirty (30) days thereafter, elect to determine such amounts by such time, promptly following provide Tenant with a revised estimate of the time when such amounts can reasonably be determined. Tenant covenants and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month Operating Expenses for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure Operating Period in which such expiration or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each termination date occurs and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord in a lump sum any difference arising with respect to Base Rent payments made by Tenant for the calendar year in question prior to the date of Tenant's receipt of such notice. Notwithstanding anything contained herein to the contrary, in no event shall the Base Rent Adjustment contemplated hereby result in an increase in that will be due from Tenant for such Operating Period, which estimated Base Rent Adjustment shall be prorated to reflect the portion of less than two such Operating Period that is contained within the Term of the Lease (2%the “Final Estimated Base Rent Adjustment”). In the event that Landlord elects to deliver such Final Estimated Base Rent Adjustment to Tenant, then (i) percent Tenant shall pay the prorated Base Rent Adjustment reflected in the Final Estimated Base Rent Adjustment within fifteen (15) days after Tenant’s receipt of such estimate; (ii) the estimated amount of the Base Rent payable Adjustment for the final Operating Period shall be binding upon Landlord and Tenant; and (iii) Landlord shall not thereafter seek from Tenant any additional Base Rent Adjustment if the actual Operating Expenses for such Operating Period are greater than those reflected in the Final Estimated Base Rent Adjustment, nor shall Landlord have any obligation to refund to Tenant any excess funds paid by Tenant prior to Landlord should the actual Operating Expenses for such adjustment dateOperating Period be less than those reflected in the Final Estimated Base Rent Adjustment. In the event that Landlord elects not to provide Tenant with a Final Estimated Base Rent Adjustment, then it shall be presumed that Landlord will provide Tenant with an Expense Statement within one hundred twenty (120) days after the end of the final Operating Period contained in the Term, as provided above, and the Base Rent Adjustment shown in such Expense Statement shall be due from Tenant to Landlord within fifteen (15) days after Tenant’s receipt of such statement.

Base Rent Adjustment. The base rent payable under the terms of subparagraph 2.A. of this lease shall be adjusted upward from time to time in accordance with the following provisions: .3313 A. Expense Stop. As used in this lease, (i) the term "Expense Stop" shall mean the sum of $.3313 per square foot of space in the building and (ii) the ------ term "Basic Costs" shall mean all real property taxes, assessments (whether general or special) and governmental charges of any kind and nature whatsoever, including, without limitation, assessments due to deed restrictions and/or owners' associations, which accrue against the building and/or project of which the premises are a part during the term of this lease and all insurance premiums Landlord is required to pay or deems necessary to pay, including, without limitation, public liability insurance and fire and extended coverage insurance with respect to the building and/or project. Tenant shall during the term of this lease pay as an adjustment to the base rent, (i.e., the rent payable under subparagraph 2.A. hereof), an amount (per each square foot of space within the premises) equal to the excess ("Excess") from time to time of actual Basic Costs per square foot of space in the building over the Expense Stop. Landlord will make a good faith estimate of the Base Rent Excess for each calendar year and the monthly payment of base rent by Tenant shall be increased as of January 1 adjusted upward in accordance with such estimate. By April 1st of each calendar year during the term of this lease and by April 1st of the Lease Term to equal the Base Rent stated in item 15 of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent for such Lease Year by (ii) the Percentage Increase determined as of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Section. Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days prior to the date on which the increase in Base Rent becomes effective or, if Landlord is not reasonably able to determine such amounts by such time, promptly year following the time when such amounts can reasonably be determined. Tenant covenants and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in questionwhich this lease terminates, or as soon thereafter as practical, Landlord shall furnish (upon written request) to Tenant a statement of Landlord's actual Basic Costs for the previous calendar year. If for any calendar year additional rent collected under the terms of this subparagraph 4.A. for the prior year, as a result of Landlord's estimate of Basic Costs, is in excess of the additional rent actually due from Tenant hereunder during such prior year, then Landlord shall credit to Tenant's rental obligations any overpayment (or if Tenant has no further financial obligations under this lease, then Landlord shall refund the overpayment). Likewise, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord in a lump sum Landlord, on demand, any difference arising underpayment with respect to Base Rent payments the prior year. Any payment to be made by Tenant for pursuant to this subparagraph 4.A. with respect to the calendar year in question prior to which this lease commences or terminates shall be prorated if this lease is not enforced during the date full calendar year. If at any time during the term of Tenant's receipt this lease, the present method of such notice. Notwithstanding anything contained herein to taxation shall be changed so that in lieu of the contrarywhole or any part of any taxes, assessments or governmental charges levied, assessed or imposed on real estate and the improvements thereon, there shall be levied, assessed or imposed on Landlord a capital levy or other tax directly on the rents received therefrom and/or a franchise tax, assessment, levy or charge measured by or based, in no event whole or in part, upon such rents for the building and/or project of which the premises are a part, and all such taxes, assessments, levies or charges, or the part thereof so measured or based, shall be deemed to be included within the Base Rent Adjustment contemplated hereby result in an increase in Base Rent of less than two (2%) percent of term "real property taxes" for the Base Rent payable by Tenant prior to such adjustment datepurposes hereof.

Base Rent Adjustment. The Base Rent shall be subject to upward revision at the beginning of every lease year during the term of the Lease to compensate for increases in property taxes, insurance premiums, including but not limited to fire and other casualty insurance and public liability insurance, and operating costs of the Building, herein collectively referred to as "Building Costs"; the first such adjustment to be made for the one (1) year period commencing the first day of November, 2007. The amount of the Base Rent Adjustment payable by Tenant during the second year of this Lease and each year thereafter shall not exceed One Hundred and Eight Percent (108%) of the amount paid by Tenant for the prior Lease Year, excluding Property Taxes. In the event that Landlord does not contest increases in Property Taxes, Tenant shall have the right to contest any such increase and shall keep Landlord informed of the steps being taken. Landlord agrees to cooperate fully with Tenant in prosecuting any appeal taken by Tenant as a result of such increase, at no cost or expense to Landlord. To the extent Tenant obtains any reduction as a result of such contest and to the extent such reduction is not applied to Tenant's Proportionate Share of responsibility for such taxes, Tenant shall have the right to recoup from future installments of Base Rent and Base Rent Adjustment all reasonable costs and expenses, including reasonable attorney fees, incurred by Tenant in connection with such contest, provided the same shall not exceed the amount of the reduction in Property Taxes resulting therefrom and further provided and on the condition that Tenant supply documentation in reasonable detail of such costs and expenses. Commencing November 1, 2007, Tenant shall pay, in addition to Tenant's regular monthly rent, one-twelfth (1/12th) of Tenant's pro-rata share of any estimated Comparison Year Building Cost increase over the Base Year Building Costs. Certain variable expenses such as water, electric, trash, and janitorial costs shall be increased as allocated based on occupied square footage or actual expenses if they can be separately determined. The Building property taxes and insurance premiums for the calendar year and the operating costs of January 1 the Building for the calendar year in which this Lease commences (2006) shall be considered the "Base Year" Building Costs. Property taxes, insurance premiums and operating costs of the Building for each calendar subsequent year of the Lease Term lease term shall be considered "Comparison Year" Building Costs. The Building Costs shall be based on an accrual basis and shall be determined by taking into account all maintenance and management costs directly attributable to equal the Building, including building superintendents, all labor costs involved in the operation and maintenance of the Building, utilities (water, sewer, natural gas, electricity), costs of August 10, 2006 Landlord JCO Tenant GC supplies used in the Building, and all other costs which can properly be considered expenses of operating but excluding property additions and capital improvements, alterations for tenants, depreciation, interest, income taxes, lease commissions, asbestos-related and/or hazardous substance abatement, administrative costs not specifically incurred in the operation of the Building. To determine the Tenant's share of the increase with respect to the above expenses, if any, the Base Rent stated in item 15 Year operating costs shall be subtracted from the applicable Comparison Year costs and the remainder, if positive, shall be divided by the total Building rentable square footage. The resulting quotient shall be multiplied by the Tenant's total rentable square footage to determine the Tenant's share of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent for such Lease Year by (ii) the Percentage Increase determined as of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Sectionincrease in Building Costs. Landlord shall notify give to Tenant in writing on or before the first (1st) day of the new annual Base Rent amount and the new monthly installment amount thereof at least three fourth (34th) days prior to the date on which month following each Comparison Year a statement of the increase in Base Rent becomes effective oror other payment payable by Tenant hereunder, if but failure by Landlord is to give such statement by said date shall not reasonably able constitute a waiver by Landlord of its right to determine require an increase in the Base Rent or other payment. Upon receipt of the statement for the first (1st) Comparison Year, Tenant shall pay in full the total amount of any increase due for the first (1st) Comparison Year in excess of the estimated Comparison Year Building Costs previously paid to Landlord. In addition, the amount of any such amounts by such time, promptly following increase shall be used as an estimate of Building Costs for the time when such amounts can reasonably then current Comparison Year and this amount shall be determined. divided into twelve (12) equal monthly installments and Tenant covenants and agrees to shall pay to Landlord currently with the adjusted regular monthly rent payment next due following the receipt of such statement, an amount equal to one (1) monthly installment multiplied by the number of months from the first (1st) month in the lease year in which said statement is submitted through the month of such payment. Subsequent installments, based on the estimate for the current Comparison Year, shall be payable concurrently with the regular monthly Base Rent in equal monthly installments on the first day of each and every month payments for the pertinent calendar year after notification balance of that Comparison Year and shall continue until the adjusted Base Rent next Comparison Year's statement is rendered. If the second or any succeeding Comparison Year results in a greater increase in Building Costs, then upon receipt of a statement from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord in a lump sum equal to the Tenant's share of such total increase in Building Costs over the Base Year less the total of the monthly installments of estimated increases paid in the previous Comparison Year, and the estimated monthly installments to be paid for the next Comparison Year following said Comparison Year shall be adjusted to reflect such increase. If in any difference arising Comparison Year the Tenant's share of Building Costs is less than the preceding Comparison Year, then upon receipt of Landlord's statement, any overpayment made by Tenant on the monthly installment basis provided above shall be a credit to the succeeding month's Base Rent payment or payments as the same become due and the estimated monthly installments of Building Costs to be paid for the next Comparison Year shall be adjusted to reflect such lower Building Costs for the preceding Comparison Year. Landlord's accountant shall prepare the determination of Building Costs per square foot and/or Landlord may employ other authorized representatives as with respect to Base Rent payments such year and their determination shall be final and conclusive on both parties. The space occupied by the Tenant hereunder is 14,659 rentable square feet. Landlord shall at all times maintain accurate records of the Building Costs. Said records shall be made by Tenant for the calendar year in question prior available to the date Tenant at the Landlord's August 10, 2006 Landlord JCO Tenant GC management offices for a period of Tenant's receipt of such notice. Notwithstanding anything contained herein to the contrary, in no event shall the Base Rent Adjustment contemplated hereby result in an increase in Base Rent of less than two three (2%3) percent of the Base Rent payable Comparison Years upon ten (10) business days' prior written notification by Tenant prior to such adjustment dateTenant.

Base Rent Adjustment. The amount "Base Rent Adjustment" for each calendar year will equal the product of (a) the Net Rentable Area of the Premises, times (b) a rate per annum per square foot of Net Rentable Area equal to the sum of (i) the excess, if any, of the rate of Operating Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Operating Costs Base Rate, (ii) the excess, if any, of the rate of Tax Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Tax Costs Base Rate, and (iii) the excess, if any, of the rate of Utilities Costs per square foot of Net Rentable Area in the Building for the applicable calendar year over the Utilities Costs Base Rate. Effective on any change in the Net Rentable Area of the Premises or the Building in accordance with this Lease, the calculation of the Base Rent shall be increased as of Adjustment will change accordingly. The Base Rent Adjustment will never lower Base Rent below the amount specified in the Basic Lease Information. Prior to January 1 of each calendar year after the Base Year (or as soon thereafter as reasonably practical), Landlord will provide an estimate of the Lease Term to equal the Base Rent stated Adjustment for the forthcoming calendar year, and the Monthly Rent Installments due thereafter will be adjusted to reflect the Base Rent Adjustment so estimated by Landlord. By June 1 of each calendar year, or as soon thereafter as reasonably practical, Landlord will furnish to Tenant a statement (the "Annual Statement") showing in item 15 reasonable detail the calculation of the Summary of Lease Terms for such Lease Year plus an amount equal tot he produce obtained by multiplying (i) such Base Rent Adjustment for such Lease Year the immediately preceding calendar year and comparing the actual Base Rent Adjustment to the estimated Base Rent Adjustment actually paid by (ii) Tenant. If the Percentage Increase determined as estimated Base Rent Adjustment paid is less than the actual Base Rent Adjustment reflected on the Annual Statement, Tenant must pay Landlord the amount of the date of adjustment; provided, however, that Base Rent (as previously adjusted) shall never decrease by virtue of this Section. Landlord shall notify Tenant in writing of the new annual Base Rent amount and the new monthly installment amount thereof at least three (3) days prior to the date on which the increase in Base Rent becomes effective or, if Landlord is not reasonably able to determine such amounts by such time, promptly following the time when such amounts can reasonably be determined. Tenant covenants and agrees to pay to Landlord the adjusted Base Rent in equal monthly installments on the first day of each and every month for the pertinent calendar year after notification of the adjusted Base Rent from Landlord. Failure or inability of Landlord to notify Tenant prior to the pertinent January 1 adjustment date, however, shall not affect Tenant's obligation to pay Base Rent as adjusted for each and every month of the relevant calendar year and, if Tenant has not been notified of the adjusted amounts of Base Rent prior to January 1 of the calendar year in question, Tenant shall continue to pay Base Rent at the rate in effect prior to the date of adjustment until notified of the new amounts, after which time Tenant shall (x) make further payments of Base Rent thereafter arising as so adjusted and (y) pay to Landlord deficit in a lump sum any difference arising with respect to no later than thirty (30) days after receipt of the Annual Statement. If the estimated Base Rent payments made by Adjustment paid is greater than the actual Base Rent Adjustment reflected on the Annual Statement, Landlord will allow Tenant equal monthly credits against the Monthly Rent Installments due for the remainder of the then current calendar year in question prior an aggregate amount equal to the date surplus, or if Landlord so chooses, Landlord will pay Tenant the amount of Tenant's receipt the surplus in a lump sum within thirty (30) days after delivery of such noticethe Annual Statement. Notwithstanding anything contained herein to In calculating any surplus or deficit owed for any calendar year in which the contraryTerm expires, in no event shall the Base Rent Adjustment contemplated hereby result will be prorated in an increase proportion to the number of days elapsed during the Term in Base Rent of less than two (2%) percent of the Base Rent payable by Tenant prior to such adjustment datethat calendar year.