Common use of Escalation Reconciliation Clause in Contracts

Escalation Reconciliation. Within sixty (60) days after the last day of each Comparison Year, Landlord shall submit to Tenant a statement setting forth the Escalation Increase, if any (the “Escalation Statement”). Beginning with the Escalation Statement for the second Comparison Year, each such statement shall also set forth the Escalation Reconciliation for the Comparison Year just completed. To the extent that the Escalation Increase in either Taxes or Operating Expenses (the “Operating Expense Escalation” or “Tax Escalation”, as applicable) exceeds the Estimated Escalation Increase upon which Tenant paid Rent during the Comparison Year just completed, Tenant shall pay Landlord the difference, in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense or Tax Escalation is less than the Estimated Escalation Increase, then Tenant shall receive a credit on future Rent owing under this Lease (or, at Tenant’s option, a refund), as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases for the new Comparison Year shall continue to be paid at the rate being paid for the particular Comparison Year just completed, and Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of the Escalation Statement beginning on the first day of the month following the month in which Tenant receives the Escalation Statement.

Escalation Reconciliation. Within sixty (60) days after As soon as practicable following the last day end of each Comparison Yearcalendar year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any the (the “"Escalation Statement”"). Beginning with the Escalation Statement for the second Comparison Yearcalendar year of the Lease Term, each such statement if shall also set forth the Escalation Reconciliation for the Comparison Year calendar year just completed. To the extent that the Escalation Increase increase in either Taxes or Operating Expenses (the “"Operating Expense Escalation” or “Tax Escalation”", as applicable) exceeds is greater than the Estimated Escalation Increase upon which Tenant paid Rent during the Comparison Year calendar year just completed, Tenant shall pay Landlord the difference, difference in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense Expenses or Tax Escalation is less than the Estimated Escalation Increaseless, then Tenant shall receive a credit on future Rent owing under this Lease hereunder (or, at Tenant’s option, a refund), or cash if there if no future Rent owing hereunder) as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases 's Rent for the new Comparison Lease Year shall continue to be paid at the rate being paid for the particular Comparison Lease Year just completed, and . Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of the Escalation said Statement beginning on the first day of the month following the month in which Tenant receives the Escalation Statement.

Escalation Reconciliation. Within sixty one hundred twenty (60120) days after the last day of each such Comparison Year, Landlord shall submit to Tenant a statement setting forth the actual Escalation Increase, if any Increase for the Comparison Year which was just completed and the Estimated Escalation Increase for the current Comparison Year (the “Escalation Statement”). Beginning with the Escalation Statement for the second Comparison Year, each such statement shall also set forth the Escalation Reconciliation for the Comparison Year just completed. To the extent that the actual Escalation Increase in either Taxes or Operating Expenses (the “Operating Expense Escalation” or “Tax Escalation”, as applicable) exceeds the Estimated Escalation Increase upon which paid by Tenant paid Rent during for the Comparison Year just completed, Tenant shall pay Landlord the difference, in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense or Tax actual Escalation Increase for the Comparison Year just completed is less than the Estimated Escalation IncreaseIncrease paid by Tenant for such year, then Tenant shall receive a credit on future Rent owing under this Lease (oror cash, at Tenant’s option, a refundif there is no future Rent owing hereunder), as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases for the new Comparison Year shall continue to be paid at the rate being paid for the particular Comparison Year just completed, and . Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on Estimated Escalation Increase for the basis of the Escalation Statement then current Comparison Year, beginning on the first (1st) day of the month following the month in which Tenant receives the applicable Escalation Statement. Any amount described in this Article 4 that is not billed to Tenant within two (2) years after the end of the Comparison Year in question shall be deemed forever waived by Landlord, and Tenant shall have no further obligation therefor.

Escalation Reconciliation. Within sixty As soon as practicable following the end of each Comparison Year but in any event within one hundred twenty (60120) days after the last day of each such Comparison Year, Landlord shall submit to Tenant a statement setting forth the actual Escalation Increase, if any Increase for the Comparison Year which was just completed and the Estimated Escalation Increase for the current Comparison Year (the “Escalation Statement”). Beginning with the , which Escalation Statement for shall be substantially in the second Comparison Year, each such statement shall also set forth the Escalation Reconciliation for the Comparison Year just completed. form attached hereto as Exhibit I. To the extent that the actual Escalation Increase in either Taxes or Operating Expenses (the “Operating Expense Escalation” or “Tax Escalation”, as applicable) exceeds the Estimated Escalation Increase upon which paid by Tenant paid Rent during for the Comparison Year just completed, Tenant shall pay Landlord the difference, in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense or Tax actual Escalation Increase for the Comparison Year just completed is less than the Estimated Escalation IncreaseIncrease paid by Tenant for such year, then Tenant shall receive a credit on future Rent owing under this Lease (oror cash within thirty (30) days of delivery of the Escalation Statement to Tenant, at Tenant’s option, a refundif there is no future Rent owing hereunder), as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases for the new Comparison Year shall continue to be paid at the rate being paid for the particular Comparison Year just completed, and . Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on Estimated Escalation Increase for the basis of the Escalation Statement then current Comparison Year, beginning on the first (1st) day of the month following the month in which Tenant receives the applicable Escalation Statement.

Escalation Reconciliation. Within sixty (60) days after As soon as practicable following the last day end of each Comparison Yearcalendar year, Landlord shall submit to Tenant a statement setting forth the Estimated Escalation Increase, if any (the “"Escalation Statement”"). Beginning with the Escalation Statement for the second Comparison Yearcalendar year of the Lease Term, each such statement it shall also set forth the Escalation Reconciliation for the Comparison Year calendar year just completed. To the extent that the Escalation Increase increase in either Taxes or Operating Expenses (the “"Operating Expense Escalation” or “Tax Escalation”", as applicable) exceeds is greater than the Estimated Escalation Increase upon which Tenant paid Rent during the Comparison Year calendar year just completed, Tenant shall pay Landlord the difference, difference in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense or Tax Escalation is less than the Estimated Escalation Increaseless, then Tenant shall receive a credit on future Rent owing under this Lease hereunder (or, at Tenant’s option, a refund), or cash if there is no future Rent owing hereunder) as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases 's Rent for the new Comparison Lease Year shall continue to be paid at the rate being paid for the particular Comparison Lease Year just completed, and . Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on the basis of the said Escalation Statement beginning on the first day of the month following the month in which Tenant receives the Escalation Statement.

Escalation Reconciliation. Within sixty As soon as practicable following the end of each Comparison Year with good faith efforts to provide such statement within one hundred twenty (60120) days after the last day of each such Comparison Year, Landlord shall submit to Tenant a statement setting forth the actual Escalation Increase, if any Increase for the Comparison Year which was just completed and the Estimated Escalation Increase for the current Comparison Year (the “Escalation Statement”). Beginning with In the Escalation Statement for event that Landlord does not provide Tenant a statement within three hundred sixty-five (365) days after the second last day of such Comparison Year, each such statement then the Estimated Escalation Increase shall also set forth be eliminated until the Escalation Reconciliation for the next Comparison Year just completedStatement. To the extent that the actual Escalation Increase in either Taxes or Operating Expenses (the “Operating Expense Escalation” or “Tax Escalation”, as applicable) exceeds the Estimated Escalation Increase upon which paid by Tenant paid Rent during for the Comparison Year just completed, Tenant shall pay Landlord the difference, in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement. If the Operating Expense or Tax actual Escalation Increase for the Comparison Year just completed is less than the Estimated Escalation IncreaseIncrease paid by Tenant for such year, then Tenant shall receive a credit on future Rent owing under this Lease (oror cash, at Tenant’s option, a refundif there is no future Rent owing hereunder), as the case may be. Until Tenant receives the Escalation Statement, Tenant’s Estimated Escalation Increases for the new Comparison Year shall continue to be paid at the rate being paid for the particular Comparison Year just completed, and . Tenant shall commence payment to Landlord of the monthly installment of Additional Rent on Estimated Escalation Increase for the basis of the Escalation Statement then current Comparison Year, beginning on the first (1st) day of the month following the month in which Tenant receives the applicable Escalation Statement.