Common use of Calculation of Operating Costs Clause in Contracts

Calculation of Operating Costs. On or before December 15 of each Lease Year, Landlord shall provide Tenant with Landlord’s estimate of Tenant’s Share of estimated Operating Costs for the following Lease Year. Beginning on the January 1 of each Lease Year the amount of Tenant’s Share of estimated Operating Costs shall be adjusted to the amount set forth in Landlord’s notice. As promptly as practicable after the end of each Lease Year, Landlord shall compute the actual Operating Costs for the previous Lease Year. If Tenant’s Share of the actual Operating Costs is greater than the amount Tenant paid to Landlord as Tenant’s Share of the estimated Operating Costs for the previous Lease Year, Tenant shall, within fifteen (15) days after receipt of notice of Tenant’s Share of actual Operating Costs, pay to Landlord as Additional Rent an amount equal to the difference between Tenant’s Share of actual Operating Costs and Tenant’s Share of estimated Operating Costs. If Tenant’s Share of the actual Operating Costs for any Lease Year is less than the amount Tenant paid to Landlord as Tenant’s Share of estimated Operating Costs for such Lease Year, such excess amount shall be applied against the installment of Additional Rent next coming due until the same has been fully applied.

Calculation of Operating Costs. On or before December 15 of each ------------------------------ Lease Year, Landlord shall provide Tenant with Landlord’s 's estimate of Tenant’s 's Share of estimated Estimated Operating Costs for the following Lease Year. Beginning on the January 1 of each Lease Year the amount of Tenant’s 's Share of estimated Estimated Operating Costs shall be adjusted to the tot he amount set forth in Landlord’s 's notice. As promptly as practicable after the end of each Lease Year, Landlord shall compute the actual Operating Costs for the previous Lease Year. If Tenant’s 's Share of the actual Operating Costs is greater than the amount Tenant paid to Landlord as Tenant’s 's Share of the estimated Estimated Operating Costs for the previous Lease Year, Tenant shall, within fifteen (15) days after receipt of notice of Tenant’s 's Share of actual Operating Costs, pay to Landlord as Additional Rent an amount equal to the difference between Tenant’s tenant's Share of actual Operating Costs and Tenant’s tenant's Share of estimated Estimated Operating Costs. If Tenant’s 's Share of the actual Operating Costs for any Lease Year is less than the amount Tenant paid to Landlord as Tenant’s Share of estimated Operating Costs for such Lease Year, such excess amount shall be applied against the installment of Additional Rent next coming due until the same has been fully applied.