CONFIRMATION OF TENANT'S PRORATA SHARE OF EXCESS OPERATING EXPENSES Sample Clauses

CONFIRMATION OF TENANT'S PRORATA SHARE OF EXCESS OPERATING EXPENSES. After the end of each calendar year of the Term, Landlord shall cause its accountants to determine the actual amount of Excess Operating Expenses and Tenant's Prorata Share of Excess Operating Expenses for such expired calendar year and deliver a written certification of the amount thereof to Tenant. If for any calendar year Tenant paid less than the amounts specified in said certification, Tenant shall pay the unpaid portion of the same within thirty (30) days after receipt of such certification. If for any calendar year Tenant paid more than the amounts specified in said certification, Landlord shall, at Landlord's option, either (a) refund such excess to Tenant, or (b) credit such excess against the next due monthly installment or installments of estimated Additional Rent for the then existing calendar year.
Sample 1
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CONFIRMATION OF TENANT'S PRORATA SHARE OF EXCESS OPERATING EXPENSES. After the end of each calendar year of the Term, Landlord shall cause its accountants to determine the actual amount of Excess Operating Expenses and Tenant's Prorata Share of Excess Operating Expenses for such expired calendar year and deliver a written certification from Landlord's property manager of the amount thereof to Tenant. If for any calendar year Tenant paid less than the amounts specified in said certification, Tenant shall pay the unpaid portion of the same within twenty (20) days after receipt of such certification. If for any calendar year Tenant paid more than the amounts specified in said certification, Landlord shall, at Landlord's option, either (a) refund such excess to Tenant, or (b) credit such excess against the next due monthly installment or installments of estimated Additional Rent for the then existing calendar year. Upon receipt of Landlord's written certification of the Excess Operating Expenses for the expired calendar year, Tenant shall have the right to audit Landlord's books with respect to Operating Expenses for the expired calendar year. If Tenant elects to perform such audit, Tenant must notify Landlord of its desire to perform such audit within thirty (30) days following Landlord's certification of Excess Operating Expenses and the audit must be performed within sixty (60) days of the date of such written certification. The audit must be performed by a reputable independent certified public account (whose compensation is not based upon achieving a reduction in Tenant's Excess Operating Expenses nor upon the amount of any such reduction) or by an employee of Tenant. The audit will be conducted during normal business hours in Landlord's offices where such books are normally kept. Tenant and the party who performs such audit must agree, in writing, prior to performing the audit, to keep and maintain all information obtained in the audit absolutely confidential except in any arbitration, lawsuit or other proceeding between Landlord and Tenant and, in that event, such information shall be disclosed only to the arbitration panel and/or the court, as necessary.
Sample 1

Related to CONFIRMATION OF TENANT'S PRORATA SHARE OF EXCESS OPERATING EXPENSES

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Operating Expenses During the term of this Lease Tenant shall pay to Landlord as additional rent all ad valorem taxes and operating expenses and other charges of every kind and nature (“Operating Expenses”) incurred or paid by Landlord in connection with the maintenance, repair, operation, management, or ownership of the Premises. If requested, Tenant agrees to pay Landlord on the first day of each calendar month, together with the payment of rent, such amount as Landlord estimates from time to time as necessary to pay such expenses. Landlord shall xxxx Tenant annually after the end of each year for such expenses. In the event the aggregate of Tenant’s installments during the year shall be less than the amount of Operating Expenses due from Tenant, such deficiency shall be paid to Landlord within ten (10) days after demand therefore. In the event the aggregate of Tenant’s installments during the year shall be more than the amount of Operating Expenses due from Tenant, such overpayment shall be applied to Tenant’s next monthly installment of Operating Expenses and Rent. As used herein, the term “Operating Expenses” shall include the cost of maintaining casualty and public liability insurance covering the Premises, real estate ad valorem taxes and all costs of managing, operating and maintaining the Premises, including but not limited to: costs of constructing, maintaining and repairing on site and off-site traffic controls; decorating, painting, lighting, sanitary control, and removal of trash, garbage and other refuse; maintenance, repair and replacement of utility systems serving any common areas, including water, sanitary sewer and storm water lines and other utility lines, pipes and conduits; costs of utilities, including water, sewer, electricity, and gas; janitorial, sweeping and cleaning services, trash bin rentals, trash pickup fees, licenses, permits and inspection fees; parking lot painting and restriping; planting, irrigating, gardening and landscaping; signs and markers; parking control and security guards and fire protection or detection service; all general maintenance and repair; other general operation and maintenance costs and expenses; all labor and supplies required by the foregoing; and administrative costs directly attributable thereto.

  • Common Area Expenses In the event the demised premises are situated in a shopping center or in a commercial building in which there are common areas, Lessee agrees to pay his pro-rata share of maintenance, taxes, and insurance for the common area.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Base Year Calendar year 2000.

  • Operating Expense Limit The Fund’s maximum operating expense limits (each an “Operating Expense Limit”) in any year shall be that percentage of the average daily net assets of the Fund as set forth on Schedule A attached hereto and incorporated by this reference.

  • Rent and Operating Expenses Section 4.1 Basic Rent Section 4.2 Operating Expenses Section 4.3

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • Ordinary Operating Expenses For purposes of this Agreement, Ordinary Operating Expenses means all expenses of the Funds other than extraordinary expenses, such as litigation, taxes and brokerage commissions.

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