Escalation Rent. Commencing on the expiration of the Base Year, Escalation Rent shall be paid monthly, with subsequent annual reconciliation, in accordance with the following procedures:
(a) Within ninety (90) days after the close of each Calendar Year, or as soon after the ninety (90) day period as practicable, Landlord shall deliver to Tenant a statement showing the actual Building Operating Costs and the actual Common Area Operating Costs for the Calendar Year that just ended, together with Landlord’s calculation of the Escalation Rent, if any, that is due under this Lease for such Calendar Year (collectively, “Landlord’s Statement”). If Landlord’s Statement discloses that the actual Escalation Rent for that Calendar Year was less than the estimated payments previously made by Tenant, Landlord shall credit the next monthly rental payment of Tenant with an amount equal to such overpayment or, if the Term has expired, refund the overpayment to Tenant. If Landlord’s Statement discloses that the actual Escalation Rent for that Calendar Year exceeds the estimated payments previously made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days after delivery of the Statement to Tenant by Landlord. Landlord’s Statement shall also contain Landlord’s estimate of the Escalation Rent for the then current Calendar Year. Any such Escalation Rent shall be allocated equally to twelve (12) monthly Rent payments and those Rent payments shall be adjusted accordingly. Beginning with the next payment after Tenant’s receipt of Landlord’s Statement, Tenant shall pay the adjusted amount monthly. Together with the first adjusted monthly payment, Tenant shall also pay the monthly increases computed for the then current year attributable to the months in that Calendar Year preceding the delivery of Landlord’s Statement.
(b) The amount of Escalation Rent for any partial Calendar Year in the Term shall be prorated. The proration of Escalation Rent for such partial Calendar Year shall be calculated by multiplying the Escalation Rent that would have been owed had the entire Calendar Year in question been included within the Term by a fraction, the numerator of which shall be the number of days during such partial Calendar Year that this Lease was in effect and the denominator of which shall be three hundred sixty-five (365). To calculate Building Operating Costs and Common Area Operating Costs for such partial Calendar Year, Landlord will wait until the end of such partial Cal...
Escalation Rent. Escalation Rent shall be paid monthly on an estimated basis, with subsequent annual reconciliation, in accordance with the following procedures:
(a) No later than fifteen (15) days prior to the end of the Base Year and no later than fifteen (15) days prior to the end of each subsequent calendar year, or as soon after that time as practicable, Landlord shall give Tenant notice of Landlord's estimate of any Escalation Rent due under Section 4(a) for the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12th) of the estimated Escalation Rent. If Landlord fails to give notice as required in this Section, Tenant shall continue to pay on the basis of the prior year's estimate until the month after that notice is given. If at any time it appears to Landlord that the Escalation Rent for the current calendar year will vary from the estimate, Landlord may, by notice to Tenant, revise the estimate for that year, and subsequent payments by Tenant for that year shall be based on the revised estimate.
(b) Within ninety (90) days after the close of each calendar year, or as soon after the ninety (90) day period as practicable, Landlord shall deliver to Tenant a statement of the actual Escalation Rent for that calendar year showing Operation Expenses and Property Taxes on the basis of which the actual Escalation Rent was determined. At Tenant's request, Landlord shall provide Tenant reasonable supporting detail underlying the calculations of Operating Expenses and
Escalation Rent. Tenant’s Percentage Share of the total dollar increase, if any, in Operating Expenses allocable to each calendar year, or part thereof, after the Operating Expense Base Year, over the amount of Base Operating Expenses, and Tenant’s Percentage Share of the total dollar increase, if any, in Real Property Taxes allocable to each tax fiscal year, or part thereof, after the Tax Base Year, over the Base Real Property Taxes.
Escalation Rent. No later than forty-five (45) days prior to the end of the Base Year set forth in the summary and no later than forty-five (45) days prior to the end of each subsequent calendar year, or as soon after that time as practicable. Landlord shall give Tenant notice of Landlord’s estimate of any Escalation Rent due under this Section for the ensuing calendar Lease year. On or before the first day of each month during the ensuing calendar year. Tenant shall pay to Landlord one-twelfth (l/12th) of the estimated Escalation Rent. If Landlord fails to give notice as required in this Section, Tenant shall continue to pay on the basis of the prior year’s estimate until the month after that notice is given. If at any time it appears to Landlord that the Escalation Rent for the current calendar year will vary from the estimate by more than five percent (5%), Landlord shall, by notice to Tenant, revise the estimate for that year, and subsequent payments by Tenant for that year shall be based on the revised estimate.
Escalation Rent. Tenant’s Proportionate Share of the total dollar increase for the applicable calendar year, if any, in (a) Operating Expenses allocable to such calendar year, or part thereof, after the Base Year, over the amount of Base Operating Expenses, and (b) except as provided in Section 5.8 of this Lease, Real Property Taxes allocable to the tax year or years occurring in each such calendar year, or part thereof, after the Base Year, over the Base Real Property Taxes. If the Building or Project is less than one hundred percent (100%) occupied during any part of any year (including the Base Year), Landlord shall make an appropriate adjustment of the variable components of Operating Expenses for that year, as reasonably determined by Landlord using sound commercial real estate accounting and management principles, to determine the amount of Operating Expenses that would have been incurred during such year if the Building or the Project had been one hundred percent (100%) occupied during the entire year. This amount shall be considered to have been the amount of Operating Expenses for that year. For purposes hereof, “variable components” include only those component expenses that are affected by variations in occupancy levels.
Escalation Rent. In addition to the Base Rent, Sub-Sub-subtenant covenants and agrees to pay to Sub-Sub-sublandlord commencing on the Rent Commencement Date, an amount (collectively, “Escalation Rent”) equal to: (i) the Tax Escalation Payment (as hereinafter defined) plus (ii) the Operating Expense Escalation Payment (as hereinafter defined) plus (iii) the BID Escalation Payment (as hereinafter defined). Escalation Rent shall be payable by Sub-Sub-subtenant to Sub-Sub-sublandlord in the same manner as the same is payable by Sub-Sub-sublandlord to Sub-Sublandlord under Article 3 of the Sub-Sublease; except that Sub-Sub-subtenant shall, upon receipt of written notice or an invoice therefor from Sub-Sub-sublandlord, pay all installments of Escalation Rent directly to Sub-Sub-sublandlord at least two (2) Business Days prior to the respective due dates under the Sub-Sublease for the corresponding payments of such Escalation Rent. Escalation Rent shall be prorated, if necessary, to correspond with that portion of a Tax Year (as defined in the Lease) or an Operating Expense Year (as defined in the Lease) occurring during the Term. Promptly following its receipt of any Estimated Tax Statement pursuant to Section 4.02.B(ii) of the Lease, Estimated BID Statement pursuant to Section 4.02.D(ii) of the Lease and/or Estimated Operating Expense Statement pursuant to Section 4.03.B(ii) of the Lease or of any Tax Statement pursuant to Section 4.02.B(iii) of the Lease, BID Statement pursuant to Section 4.02.D(iii) of the Lease and/or Operating Expense Statement pursuant to Section 4.03.B(iii) of the Lease, Sub-Sub-sublandlord shall calculate the Escalation
Escalation Rent. 7 SECTION 6. USE....................................................... 8 SECTION 7. SERVICES.................................................. 8 SECTION 8. ALTERATIONS............................................... 9 SECTION 9. REPAIRS; LANDLORD'S RESERVATION OF RIGHTS................. 9 SECTION 10.
Escalation Rent. (a) Tenant shall continue to pay the Escalation Rent applicable to the Existing Premises pursuant to the terms and conditions of Article 3 of the Lease (as unamended by this Agreement).
(b) In addition, from and after the Expanded Additional Premises Commencement Date, Tenant shall pay Escalation Rent applicable to the Expanded Additional Premises in accordance with the terms and conditions of Article 3 of the Lease, provided, however, that as applicable to the Expanded Additional Premises, (i) the term “Base Tax Factor” shall mean the Taxes payable for the calendar year commencing on January 1, 2018 and ending on December 31, 2018, and (ii) the term “Tenant’s Share” shall mean 1.739%.
Escalation Rent. (a) Tenant shall continue to pay the Escalation Rent applicable to the Original Premises pursuant to the terms and conditions of Article 3 the Lease (as unamended by this Agreement).
(b) In addition, (x) from and after the Additional Premises Commencement Date, Tenant shall pay Escalation Rent applicable to the Additional Premises in accordance with the terms and conditions of Article 3 of the Lease, provided, however, that as applicable to the Additional Premises, (i) the term “Base Tax Factor” shall mean the Taxes payable for the calendar year commencing on January 1, 2018 and ending on December 31, 2018, and (ii) the term “Tenant’s Share” shall mean 13.615% (it being agreed that 8.667% shall be applicable to the Fifth Floor Additional Premises and 4.948% shall be applicable to the Sixth Floor Additional Premises), and (y) from and after the Additional Basement Premises Commencement Date, Tenant shall pay Escalation Rent applicable to the Additional Basement Premises in accordance with the terms and conditions of Article 3 of the Lease, provided, however, that as applicable to the Additional Basement Premises, (i) the term “Base Tax Factor” shall mean the Taxes payable for the calendar year commencing on January 1, 2018 and ending on December 31, 2018, and (ii) the term “Tenant’s Share” shall mean 1.096%.
Escalation Rent. Effective February 1, 2005, and annually thereafter, Tenant shall pay to Landlord an increase of two and one-half (2 1/2) percent of the Annual Rental Rate, which increase (i) shall be cumulative and compounded annually, (ii) shall be billed to Tenant monthly commencing February 1, 2005, and (iii) shall be recalculated upon the Annual Rental Rate increase on February 1, 2009, and (iv) shall be in lieu of all "porter's wage" and "operating cost escalations" other than the escalxxxxx on account of Real Estate Tax Increases as provided in Article 39. Landlord and Tenant agree that the schedule attached to this Third Amendment as EXHIBIT A hereto, accurately reflects the calculation of the annual Escalation Rent payable under this provision."
