Common use of Correction of Operating Cost Share Rent Clause in Contracts

Correction of Operating Cost Share Rent. Landlord shall deliver to Tenant a written report for the previous Fiscal Year (the "Operating Cost Report") by April 1 of each year, or as soon as reasonably possible thereafter but not later than May 31 of each Fiscal Year, setting forth (a) the actual Operating Costs incurred, (b) the amount of Operating Cost Share Rent due from Tenant, and (c) the amount of Operating Cost Share Rent paid by Tenant. Within twenty (20) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid, if applicable. If the amount paid exceeds the amount due, Landlord shall apply the excess to Tenant's payments of Operating Cost Share Rent next coming due or, if the excess is greater than $5,000.00, Landlord shall promptly refund such amount to Tenant. If Landlord fails to deliver the Operating Cost Report by May 31 of the Fiscal Year following the Fiscal Year to which such Operating Cost Report applies, Tenant may notify Landlord thereof in writing and, if Landlord has still not provided such Operating Cost Report within thirty (30) days of such notice, Tenant shall not be liable for any increase in Tenant's Operating Cost Share Rent for the preceding Fiscal Year above Tenant's Estimated Operating Cost Share Rent paid for such preceding Fiscal Year, provided that the foregoing shall have no effect on Tenant's obligation for Operating Cost Share Rent for the then-current or any subsequent Fiscal Year.

Correction of Operating Cost Share Rent. As soon as --------------------------------------- reasonably possible after the end of each fiscal year, Landlord shall deliver to Tenant a written report for the previous Fiscal Year (the "Operating Cost Report") by April 1 of each year, or as soon as reasonably possible thereafter but not later than May 31 of each Fiscal Year, setting forth (a) the actual Operating Costs incurredfor the preceding fiscal year, (b) the amount of Base Operating Cost Share Rent due from TenantExpenses, and (c) the amount of Operating Cost Share Rent due to Landlord for such preceding fiscal year, and (d) the amount of Operating Expense Share Rent paid by Tenantthe Tenant in and allocable to such fiscal year. Within twenty On or before thirty (2030) days after receipt of such deliveryreport, Tenant shall pay to Landlord the amount of Operating Cost Share Rent due for the preceding fiscal year (or a portion thereof if this Lease was not in effect for the entire fiscal year) minus the amount paid, if applicableany payments made by Tenant for such fiscal year. If the amount paid exceeds the amount due, Landlord shall apply the excess to Tenant's estimated payments of Operating Cost Share Rent next coming exceed the amount due or, if Landlord for the excess is greater than $5,000.00fiscal year in question, Landlord shall promptly apply any such amount as a credit against Tenant's other obligations under this Lease, or if the Term has expired or this Lease has been terminated and Tenant has no further obligations under this Lease (including any obligations which survive the expiration or termination of this Lease), then Landlord shall refund any such amount to Tenant. If Landlord fails to deliver the Operating Cost Report by May 31 of the Fiscal Year following the Fiscal Year to which such Operating Cost Report applies, Tenant may notify Landlord thereof in writing and, if Landlord has still not provided such Operating Cost Report within thirty (30) days of such notice, Tenant shall not be liable for any increase in Tenant's Operating Cost Share Rent for the preceding Fiscal Year above Tenant's Estimated Operating Cost Share Rent paid for such preceding Fiscal Year, provided that the foregoing shall have no effect on Tenant's obligation for Operating Cost Share Rent for the then-current or any subsequent Fiscal Year.

Correction of Operating Cost Share Rent. Landlord shall deliver to Tenant a written report for the previous Fiscal Year (the "“Operating Cost Report"”) by April 1 of each year, or as soon as reasonably possible thereafter but not later than May 31 of each Fiscal Year, setting forth (a) the actual Operating Costs incurred, (b) the amount of Operating Cost Share Rent due from TenantTenant (inclusive of any Equitable Adjustments, as defined below, thereto), and (c) the amount of Operating Cost Share Rent paid by Tenant. Within twenty (20) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid, if applicableany. If the amount paid exceeds the amount due, Landlord shall apply the excess to Tenant's ’s payments of Operating Cost Share Rent next coming due or, if the excess is greater than $5,000.00, Landlord shall promptly refund such amount to Tenant. If Landlord fails to deliver the Operating Cost Report by May 31 of the Fiscal Year following the Fiscal Year to which such Operating Cost Report applies, Tenant may notify Landlord thereof in writing and, if Landlord has still not provided such Operating Cost Report within thirty (30) days of such notice, Tenant shall not be liable for any increase in Tenant's ’s Operating Cost Share Rent for the preceding Fiscal Year above Tenant's ’s Estimated Operating Cost Share Rent paid for such preceding Fiscal Year, provided that the foregoing shall have no effect on Tenant's ’s obligation for Operating Cost Share Rent for the then-current or any subsequent Fiscal Year.

Correction of Operating Cost Share Rent. Landlord shall deliver to Tenant a written report for the previous Fiscal Year fiscal year (the "Operating Cost Report") by April 1 of each year, or as soon as reasonably possible thereafter but not later than May 31 of each Fiscal Yearthereafter, setting forth (a) the actual Operating Costs incurred, (b) the amount of Operating Cost Share Rent due from Tenant, and (c) the amount of Operating Cost Share Rent paid by Tenant. The Operating Cost Report shall be itemized on a line-by-linx xxxxs, showing each expense for the applicable year. Within twenty thirty (2030) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid, if applicable. If the amount paid exceeds the amount due, Landlord shall apply the excess to Tenant's payments of Operating Cost Share Rent next coming due ordue, but if the excess is greater than $5,000.00amount exceeds two months' credit of Operating Cost Share Rent payments, Landlord shall promptly refund pay the excess over such amount two months' credit to Tenant. If Landlord fails to deliver the Operating Cost Report by May 31 of the Fiscal Year following the Fiscal Year to which such Operating Cost Report applies, Tenant may notify Landlord thereof in writing and, if Landlord has still not provided such Operating Cost Report within thirty (30) days days. Landlord will not collect or be entitled to collect Operating Costs in an amount which is in excess of such noticeone hundred percent (100%) of the Operating Costs actually paid by Landlord in connection with the operation of the Building (excluding the management fees, as provided below). Landlord and Tenant shall not be liable for any increase in Tenant's Operating Cost Share Rent for the preceding Fiscal Year above Tenant's Estimated Operating Cost Share Rent paid for such preceding Fiscal Year, provided also acknowledge and agree that the foregoing shall have no effect Building is part of a fivx xxxxding office project (the "Project"), as more particularly described on Tenant's obligation for Exhibit A-2 attached hereto, and some Operating Cost Share Rent for Costs of the then-current or any subsequent Fiscal YearProject will be equitably allocated by Landlord to the Building.

Correction of Operating Cost Share Rent. Landlord shall deliver to Tenant a written report for the previous Fiscal Year (the "Operating Cost Report") by April 1 of each year, or as soon as reasonably possible thereafter but not later than May 31 of each Fiscal Yearthereafter, setting forth (a) the actual Operating Costs incurred, as certified by a financial officer of Landlord, (b) the Base Amount, (c) the amount of Operating Cost Share Rent due from Tenant, and (cd) the amount of Operating Cost Share Rent paid by Tenant. Within twenty (20) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid, if applicable. If the amount paid exceeds the amount due, Landlord shall apply the excess to Tenant's payments of Operating Cost Share Rent next coming due or, if the excess is greater than $5,000.00at Tenant's election by notice to Landlord, Landlord shall promptly refund such amount excess to Tenant if Tenant is not in default under this Lease beyond any applicable notice and cure period (in the instance of a default, such excess shall be held as security for Tenant. If 's performance, may be applied by Landlord fails to deliver the Operating Cost Report by May 31 of the Fiscal Year following the Fiscal Year extent necessary to which cure any such Operating Cost Report appliesdefault, Tenant may notify Landlord thereof in writing and, if Landlord has still not provided such Operating Cost Report within thirty (30) days of such notice, Tenant and shall not be liable for refunded until any increase in such default is cured). In addition, if such excess Operating Cost Share Rent paid by Tenant is more than five percent (5%) of the amount of Tenant's Operating Cost Share Rent for such year, such credit or refund, as the preceding Fiscal Year above Tenant's Estimated case may be, shall be made together with interest at the Default Rate on the amount of such excess accruing from the first day of July of the calendar year for which such excess is applicable until the date of refund; provided, however, if a disproportionate amount of the excess Operating Cost Share Rent paid for such preceding Fiscal Year, provided that is collected by Landlord prior to or after July 1 of the foregoing shall have no effect on applicable calendar year (calculated with reference to the actual amount of Tenant's obligation for Operating Cost Share Rent for such year if such amount were paid in equal monthly installments), the then-current or interest payable by Landlord, if any, on such excess shall be calculated in a manner so as to accrue only on the amount of such excess, as and when such excess is received by Landlord, and in a manner to give Landlord appropriate credit for any subsequent Fiscal Yearunderpayments of Tenant's Operating Cost Share Rent and any payments thereof not made when due.