Common use of Determination and Payment of Tax Costs and Operating Expenses Clause in Contracts

Determination and Payment of Tax Costs and Operating Expenses. 6.4.1 On or before the last day of each December during the Term of this Lease, Landlord shall furnish to Tenant a written statement showing in reasonable detail Landlord’s projected Direct Costs for the succeeding calendar year. If such statement of projected Direct Costs indicates the Direct Costs will be higher than in the Base Year, then the Rent due from Tenant hereunder for the next succeeding year shall be increased by an amount equal to Tenant’s Proportionate Share of the difference between the projected Direct Costs for the calendar year and the Base Year. If during the course of the calendar year Landlord determines that actual Direct Costs’ will vary from its estimate by more than five percent (5%), Landlord may deliver to Tenant a written statement showing Landlord’s, revised estimate of Direct Costs. On the next payment date for Monthly Installments of Rent following Tenant’s receipt of either such statement, Tenant shall pay to Landlord an additional amount equal to such monthly Rent increase adjustment (as set forth on Landlord’s statement). Thereafter, the monthly Rent adjustment payments becoming due shall be in the amount set forth in such projected Rent adjustment statement from Landlord. Neither Landlord’s failure to deliver nor late delivery of such statement shall constitute a default by Landlord or a waiver of Landlord’s right to any Rent adjustment provided for herein.

Determination and Payment of Tax Costs and Operating Expenses. 6.4.1 6.3.2.1. On or before the last day of each December during the Term of this Lease, Landlord shall furnish to Tenant a written statement showing in reasonable detail Landlord’s 's projected Direct Costs for the succeeding calendar year. If such statement of projected Direct Costs indicates the Direct Costs will be higher than in the Base Year, then the Rent due from Tenant hereunder for the next succeeding year shall be increased by an amount equal to Tenant’s 's Proportionate Share of the difference between the projected Direct Costs for the calendar year and the Base Year. If during the course of the calendar year Landlord determines that actual Direct Costs’ Costs will vary from its estimate by more than five percent (5%), Landlord may deliver to Tenant a written statement showing Landlord’s, Xxxxxxxx's revised estimate of Direct Costs. On the next payment date for Monthly Installments of Rent following Tenant’s Xxxxxx's receipt of either such statement, Tenant shall pay to Landlord an additional amount equal to such monthly Rent increase adjustment or a reduced amount if Landlord estimates of direct costs is lower (as set forth on Landlord’s 's statement). Thereafter, the monthly Rent adjustment payments becoming due shall be in the amount set forth in such projected Rent adjustment statement from Landlord. Neither Landlord’s 's failure to deliver nor late delivery of such statement shall constitute a default by Landlord or a waiver of Landlord’s 's right to any Rent adjustment provided for herein.

Determination and Payment of Tax Costs and Operating Expenses. 6.4.1 6.4.1. On or before the last day of each December during the Term of this Lease, Landlord shall furnish to Tenant a written statement showing in reasonable detail Landlord’s projected Direct Costs for the succeeding calendar year. If such statement of projected Direct Costs indicates the Direct Costs will be higher than in the Base Year, then the Rent due from Tenant hereunder for the next succeeding year shall be increased by an amount equal to Tenant’s Proportionate Share of the difference between the projected Direct Costs for the calendar year and the Base Year. If during the course of the calendar year Landlord determines that actual Direct Costs’ Costs will vary from its estimate by more than five percent (5%), Landlord may deliver to Tenant a written statement showing Landlord’s, ’s revised estimate of Direct Costs. On the next payment date for Monthly Installments of Rent following Tenant’s receipt of either such statement, Tenant shall pay to Landlord an additional amount equal to such monthly Rent increase adjustment (as set forth on Landlord’s statement). Thereafter, the monthly Rent adjustment payments becoming due shall be in the amount set forth in such projected Rent adjustment statement from Landlord. Neither Landlord’s failure to deliver nor late delivery of such statement shall constitute a default by Landlord or a waiver of Landlord’s right to any Rent adjustment provided for herein.

Determination and Payment of Tax Costs and Operating Expenses. 6.4.1 6.3.2.1. On or before the last day of each December during the Term of this Lease, Landlord shall furnish to Tenant a written statement showing in reasonable detail Landlord’s 's projected Direct Tax Costs and Operating Expenses for the succeeding calendar year. If such statement of projected Direct Costs indicates the Direct Costs will be higher than in the Base Year, then the Rent due from Tenant hereunder for the next succeeding year shall be increased by an amount equal to Tenant’s Proportionate Share 's proportionate share of the difference between the projected Direct Costs for the calendar year and the Base Year. If during the course of the calendar year Landlord determines that actual Direct Costs’ will vary from its estimate by more than five percent (5%), Landlord may deliver to Tenant a written statement showing Landlord’s, revised estimate of Direct Costs. On the next payment date for of Monthly Installments of Rent following Tenant’s 's receipt of either such statement, if such statement indicates that an estimated rent increase is due, Tenant shall pay to Landlord an additional amount equal to such monthly Rent rent increase adjustment (as set forth on Landlord’s 's statement). Thereafter, the monthly Rent rent adjustment payments becoming due shall be in the amount set forth in such projected Rent rent adjustment statement from Landlord. Neither Landlord’s 's failure to deliver nor late delivery of such statement shall constitute a default by Landlord or a waiver of Landlord’s 's right to any Rent rent adjustment provided for herein.