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

Correction of Operating Cost Share Rent. Within one hundred eighty (180) days after the end of each calendar year which falls totally or partially within the Term, Landlord shall deliver to Tenant a report for such year (the “Operating Cost Report”) 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 thirty (30) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid. If the amount paid previously exceeds the amount due, Landlord shall apply the excess to Tenant’s next monthly payment of Operating Cost Share Rent, refunding any overage directly to Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Federal Home Loan Bank of Chicago), Lease Agreement (Federal Home Loan Bank of Chicago)

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Correction of Operating Cost Share Rent. Within one hundred eighty (180) days after the end of each calendar year which falls totally or partially within the Term, Landlord shall deliver to Tenant a report for such year the previous Fiscal Year (the "Operating Cost Report") by April 1 of each year, or as soon as reasonably possible thereafter, setting forth (a) the actual Operating Costs incurred, (b) the Base Operating Costs, (c) the amount of Operating Cost Share Rent due from Tenant, and (cd) the amount of Operating Cost Share Rent paid by Tenant. Within thirty twenty (3020) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid. If the amount paid previously exceeds the amount due, Landlord shall apply the excess to Tenant’s next monthly payment 's payments of Operating Cost Share RentRent next coming due, refunding any overage directly or if none, shall refund such excess to TenantTenant within thirty (30) days following the date of such report. Such obligation shall survive the expiration or earlier termination of this Lease.

Appears in 1 contract

Samples: Lease Agreement (Education Lending Group Inc)

Correction of Operating Cost Share Rent. Within one hundred eighty (180) days after the end of each calendar year which falls totally or partially within the Term, Landlord shall deliver to Tenant a report for such year the previous Fiscal Year (the "Operating Cost Report") by April 1st of each year, or as soon as reasonably possible thereafter, setting forth (a) the actual Fiscal Year Operating Costs incurredincurred for the Fiscal Year in question, (b) the amount of Operating Cost Share Rent due from Tenant, and (c) the amount of Operating Cost Share Rent paid by Tenant. Within thirty (30) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid. If the amount paid previously exceeds the amount due, Landlord shall apply the excess to Tenant’s next monthly payment 's payments of Operating Cost Share RentRent next coming due (or, refunding any overage directly if this Lease has then expired, shall refund such excess to TenantTenant concurrently with the delivery of such Operating Cost Report).

Appears in 1 contract

Samples: Lease Agreement (Orthologic Corp)

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Correction of Operating Cost Share Rent. Within one hundred eighty (180) days after the end of each calendar year which falls totally or partially within the Term, Landlord shall deliver to Tenant a report for such year the previous Fiscal Year (the "Operating Cost Report") by May 15 of each year, or as soon as reasonably possible thereafter, setting forth (a) the actual Operating Costs incurred, (b) the Base Operating Costs, (c) the amount of Operating Cost Share Rent due from Tenant, and (cd) the amount of Operating Cost Share Rent paid by Tenant. Within thirty (30) days after such delivery, Tenant shall pay to Landlord the amount due minus the amount paid. If the amount paid previously exceeds the amount due, Landlord shall apply the excess to Tenant’s 's payments of Rent next monthly payment coming due, or if no further payments of Operating Cost Share RentRent are coming due under this Lease because the Lease is terminating, refunding any overage directly such excess shall be refunded to TenantTenant within fifteen (15) days.

Appears in 1 contract

Samples: Consent to Sublease (NovaCardia Inc)

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