Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 3 contracts
Samples: Office Building Lease (Netsol International Inc), Office Building Lease (Ryland Group Inc), Office Building Lease (Simpson Manufacturing Co Inc /Ca/)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's's Percentage share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 2 contracts
Samples: Early Possession Agreement (Litronic Inc), Lease Agreement (Litronic Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant’s estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage ’s Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 2 contracts
Samples: Multi Tenant Industrial Lease (BioMed Realty Trust Inc), Industrial Lease (Mfic Corp)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 2 contracts
Samples: Multi Tenant Industrial Lease (Triple Net) (Aurora Biosciences Corp), Multi Tenant Industrial Lease (Aurora Biosciences Corp)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 2 contracts
Samples: Office Building Lease (Supergen Inc), Office Building Lease (New Century Financial Corp)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord Master Lessor will endeavor to deliver to Tenant Master Lessee a statement ("“Estimate Statement"”) wherein Landlord Master Lessor will estimate both the Operating Common Area Expenses and Tenant's Percentage of Operating Expenses Master Lessee’s Monthly Common Area Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant Master Lessee agrees to pay LandlordMaster Lessor, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Master Lessee’s estimated Monthly Common Area Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord Master Lessor issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant Master Lessee agrees to pay Landlord Master Lessor an amount equal to one monthly installment of such excess Master Lessee’s estimated Monthly Common Area Expense Charge (less any applicable Operating Common Area Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord Master Lessor reasonably determines that Tenant's Percentage Master Lessee’s Share of Operating Common Area Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord Master Lessor may issue a revised Estimate Statement and Tenant Master Lessee agrees to pay LandlordMaster Lessor, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant Master Lessee under such revised Estimate Statement and the amount owed by Tenant Master Lessee under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant Master Lessee agrees to pay Tenant's Percentage of Operating Expenses Master Lessee’s Monthly Common Area Expense Charge based on such revised Estimate Statement until Tenant Master Lessee receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 2 contracts
Samples: Master Lease Agreement (TNP Strategic Retail Trust, Inc.), Master Lease Agreement (TNP Strategic Retail Trust, Inc.)
Estimate Statement. Prior When Landlord makes a determination that Tenant must commence paying additional rent pursuant to Paragraph 6(a) above (which determination may be made retroactively provided the Commencement Date calculations are made in accordance with the terms of this Lease applicable thereto), and on or about March 1st of each subsequent calendar year from time to time thereafter during the Term of this Lease, Landlord will endeavor to may deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both some or all of the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, and Utilities Costs for the then current calendar yearyear and Tenant's Percentage thereof. If the estimate of Tenant's Percentage of Operating Expenses Expenses, Tenant's Percentage of Real Property Taxes and Assessments, and/or Tenant's Percentage of Utilities Costs in the Estimate Statement exceeds Tenant's Expense Allowance with respect to Operating Expenses, Tenant's Expense AllowanceAllowance with respect to Real Property Taxes and Assessments, and/or Tenant's Expense Allowance with respect to Utilities Costs, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar yearStatement; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses Expenses, Real Property Taxes and Assessments, and/or Utilities Costs already paid) multiplied by the number of months from January, in the current beginning of the applicable calendar year, year to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses Expenses, Tenant's Percentage of Real Property Taxes and Assessments, and/or Tenant's Percentage of Utilities Costs for any calendar year is less than Tenant's Expense Allowance with respect to Operating Expenses, Tenant's Expense AllowanceAllowance with respect to Real Property Taxes and Assessments, and/or Tenant's Expense Allowance with respect to Utilities Costs, respectively, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses Expenses, Tenant's Percentage of future Real Property Taxes and Assessments, or Tenant's Percentage of future Utilities Costs payable hereunder.
Appears in 2 contracts
Samples: Office Building Lease (California First National Bancorp), Office Building Lease (Alliance Bancshares California)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of April of each subsequent calendar year during the Term of this LeaseLease (after the Base Year noted in Section 1.6 of the Summary), Landlord will shall endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, Insurance Costs, and Utilities Costs for the then current calendar yearyear payable by Tenant. If Landlord shall have the estimate of Tenant's Percentage of Operating Expenses right at any time in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees any calendar year to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement for such calendar year if Landlord determines that the Operating Expenses, Real Property Taxes and Assessments, Insurance Costs, and/or Utilities Costs are greater than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Operating Expenses, Real Property Taxes and Assessments, Insurance Costs, and/or Utilities Costs shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Expenses already paid) Expenses, Real Property Taxes and Assessments, Insurance Costs, and Utilities Costs multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current amounts previously paid by Tenant with respect to any previously delivered Estimate Statement, Landlord may issue a Statement or revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt for such calendar year). Subsequent installments shall be paid concurrently with the regular monthly rent payments for the balance of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement and shall continue until Tenant receives the next calendar year's ’s Estimate Statement (or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year ’s revised Estimate Statement) is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunderreceived.
Appears in 1 contract
Estimate Statement. Prior to By the Commencement Date and on first day of April (or about March 1st as soon as practicable thereafter) of each subsequent calendar year during the Term of this Leaseafter the Base Year, Landlord will endeavor to shall deliver to Tenant a statement ("the “Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses Expenses, Taxes, Insurance Costs, and Tenant's Percentage of Operating Expenses Utilities Costs (the “Estimated Expenses”) for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar yearyear and the estimated amount of Excess Expenses, to Excess Taxes, Excess Insurance Costs, and Excess Utilities Costs (the month of such rent payment next due“Estimated Excess Expenses”) payable by Tenant, all months inclusiveof which shall be accompanied by a reasonable amount of supporting documentation and calculations which explain and support all of the foregoing. If at any time during the Term of this LeaseTerm, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the estimated amount of Operating Estimated Excess Expenses payable by Tenant for the current calendar year will be greater or less than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Estimated Excess Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In The Estimated Excess Expenses shown on the event Tenant's Percentage Estimate Statement (or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly payment of Operating Rent next due following the receipt of the Estimate Statement (or revised Estimate Statement, as applicable), an amount equal to one (1) monthly installment of such Estimated Excess Expenses for any multiplied by the number of Months from January in the calendar year in which such statement is submitted to the Month of such payment, both Months inclusive (less than Tenant's Operating Expense Allowance, any amounts previously paid by Tenant will not with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year). Subsequent installments shall be entitled to a credit against any rent, additional rent paid concurrently with the regular monthly payments of Rent for the balance of the calendar year and shall continue until the next calendar year’s Estimate Statement (or Tenant's Percentage of future Operating Expenses payable hereundercurrent calendar year’s revised Estimate Statement) is received.
Appears in 1 contract
Samples: Office Lease (Tw Telecom Inc.)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of April of each subsequent calendar year during the Term of this LeaseLease (after the Base Year noted in Section 1.10 of the Summary), Landlord will endeavor to shall deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both estimating the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, Insurance Costs, and Utilities Costs for the then current calendar yearyear and the estimated amount of Excess Expenses, Excess Real Property Taxes and Assessments, Excess Insurance Costs, and Excess Utilities Costs payable by Tenant. If Landlord shall have the estimate of Tenant's Percentage of Operating Expenses right no more than three (3) times in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees any calendar year to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement showing the Excess Expenses, Excess Real Property Taxes and Assessments, Excess Insurance Costs, and Excess Utilities Costs for such calendar year if Landlord determines that the Excess Expenses, Excess Real Property Taxes and Assessments, Excess Insurance Costs, and/or Excess Utilities Costs are greater than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Excess Expenses, Excess Real Property Taxes and Assessments, Excess Insurance Costs, and/or Excess Utilities Costs shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Expenses already paid) Excess Expenses, Excess Real Property Taxes and Assessments, Excess Insurance Costs, and Excess Utilities Costs multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current amounts previously paid by Tenant with respect to any previously delivered Estimate Statement, Landlord may issue a Statement or revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt for such calendar year). Subsequent installments shall be paid concurrently with the regular monthly rent payments for the balance of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement and shall continue until Tenant receives the next calendar year's Estimate Statement (or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year revised Estimate Statement) is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunderreceived.
Appears in 1 contract
Samples: Office Lease (Willdan Group, Inc.)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent Commencing with calendar year 2007, and from time to time thereafter during the Term of this Lease, Landlord will endeavor to may deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both some or all of the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, and Utilities Costs for the then current calendar yearyear and Tenant’s Percentage thereof. If the estimate of Tenant's ’s Percentage of Operating Expenses Expenses, Real Property Taxes and Assessments and Utilities Costs in the Estimate Statement exceeds Tenant's ’s Expense Allowance with respect to Operating Expense AllowanceExpenses, Real Property Taxes and Assessments, and Utilities Costs for the Base Year, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar yearStatement; except that, (i) concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses Expenses, Real Property Taxes and Assessments, and/or Utilities Costs already paid) multiplied by the number of months from January, in the current beginning of the applicable calendar year, year to the month of such rent payment next due, all months inclusive. If at , and (ii) Landlord shall not provide Tenant with revised Estimate Statements more than one time in any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than of the Term. Until a new Estimate Statement is furnished, Tenant shall pay monthly, along with Basic Rent, an amount equal to one-twelfth (1/12th) of the total estimated Operating Expenses, Real Property Taxes and Assessments set forth in the then current Estimate Statement, Landlord may issue a revised last Estimate Statement and Tenant agrees delivered by Landlord to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment instalment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of Landlord receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under [illegible] such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder. Notwithstanding anything to the contrary set forth in this XXXXXXXXX 0, Xxxxxxxx may, but shall be under no obligation to, separately account for any item of Operating Expenses and allocate the same exclusively among such tenants of the Development as Landlord reasonably determines to have received all or substantially all of the benefit attributable to such item. In such event, Tenant's Percentage of such Operating Expenses shall be a percentage of the total of such costs which is determined by dividing the Rentable Square Footage of the Premises by the Rentable Square Footage of all such benefitted tenants.
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Estimate Statement. Prior to the Commencement Date and on or about March April 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess the estimated Tenant's Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess the estimated Tenant's Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Samples: Industrial Lease (Cutter & Buck Inc)
Estimate Statement. Prior to the Commencement Date and on or about March by no later than July 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to shall deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterlytwo (2) times per year, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement (which shall include a detailed statement of the reasons for any such increase) and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired; provided, however, if the amount of such difference is in excess of Fifteen Thousand Dollars ($15,000.00), Tenant shall have the right to pay the same in equal installments over a six (6) month period rather than in a single lump sum. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of each subsequent calendar year during the Term of this Lease, Landlord will shall endeavor to deliver to Tenant a statement ("Estimate Statement"" ) wherein Landlord will estimate both (and shall deliver such Estimate Statement by the Operating Expenses and Tenant's Percentage thirty-first (31st) day of each calendar year during the Term of this Lease) estimating the Operating Expenses for the then current calendar yearyear and the estimated amount of Excess Expenses payable by Tenant. If Landlord shall have the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees right during any calendar year to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement showing the Excess Expenses for such calendar year if Landlord determines that the Excess Expenses are greater than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Excess Expenses shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Excess Expenses already paid) multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed amounts previously paid by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees with respect to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's any previously delivered Estimate Statement or a new revised Estimate Statement for the current such calendar year. In ); provided, however, that with respect to the event Tenant's Percentage of Operating first Estimate Statement submitted, Tenant shall also pay the Excess Expenses for any those months, if any, during the Term which occurred prior to January of the calendar year in which such first Estimate Statement is less than Tenant's Operating Expense Allowance, Tenant will not submitted. Subsequent installments shall be entitled to a credit against any paid concurrently with the regular monthly rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Estimate Statement. Prior to Landlord shall provide Tenant with a yearly statement setting forth Landlord's reasonable estimate of the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement Operating Costs ("Estimate Statement") wherein Landlord will estimate both ), including, either separately or together with the other Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the Expenses, an estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement taxes and insurance for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's , which such Estimate Statement may be revised from time to time as is determined reasonably necessary by the Landlord but no more than one time for every six (6) month period under this Lease. Landlord shall furnish the first Estimate Statement on or before the Commencement Date and thereafter within ninety (90) days after the close of the calendar year or as soon thereafter as is reasonably possible. Until a new revised Estimate Statement is provided, Tenant shall continue to pay monthly estimates in the manner set forth above based upon the previous Estimate Statement. Landlord shall, within a reasonable period of time not to exceed one hundred twenty (120) days after each calendar year, provide Tenant with a reconciliation statement comparing the Operating Costs paid by Tenant with Landlord's actual expenses for the current such calendar year. In the event Tenant's Percentage such reconciliation statement reveals an underpayment of Operating Expenses for any calendar year is less than Tenant's Operating Expense AllowanceCosts, Tenant will shall, within thirty (30) days, pay to Landlord the amount of such underpayment. If, on the other hand, the reconciliation statement reveals an overpayment, Landlord shall immediately refund the amount of such overpayment to Tenant. Provided, however, no refunds in Operating Costs or amounts escrowed hereunder shall be paid to Tenant if Tenant is in default of any of its obligations under this Lease until such default is cured. The failure of Landlord to submit statements provided for herein shall not be entitled relieve Tenant of its obligation to a credit against any rent, additional rent or Tenant's Percentage pay its proportionate share of future Operating Expenses payable hereunderCosts.
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Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess Tenant's Percentage of Operating Expenses as set forth in the Estimate Statement each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess difference (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of of. the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Building Lease (Ijnt Net Inc)
Estimate Statement. Prior to Commencing on the Commencement Date Date, and on or about March 1st of each subsequent calendar year from time to time thereafter during the Term of this Lease, Landlord will endeavor to may deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both some or all of the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, and Utilities Costs attributable to the Premises for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess the estimated Operating Expenses, Real Property Taxes and Assessments and Utilities Costs pursuant to the most recently delivered Estimate Statement each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar yearStatement; except that, (i) concurrently with the regular monthly rent payment next due following the receipt of each such revised Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess any amounts by which the revised Estimate Statement exceeds the prior Estimate Statement (less any applicable Operating Expenses Expenses, Real Property Taxes and Assessments, and/or Utilities Costs already paid) multiplied by the number of months from January, in the current beginning of the applicable calendar year, year to the month of such rent payment next due, all months inclusive. If at , (ii) Landlord shall not provide Tenant with revised Estimate Statements more than one time in any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than of the amount set forth in the then current Estimate StatementTerm, and (iii) if Landlord may issue delivers a revised Estimate Statement and Tenant agrees to pay Landlordlater than the twentieth (20th) day of a calendar month, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under then such revised Estimate Statement and shall not be effective until the amount owed by Tenant under the original Estimate Statement for the portion first day of the then current second calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereundermonth after delivery.
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Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, Landlord as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Estimated Statement, Landlord may issue a revised Estimate Statement Statement, and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by the Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.Statement
Appears in 1 contract
Samples: Sublease (Thinka Weight Loss Corp)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Operating Expenses and Tenant's ’s Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "“Additional Rent"”, one-twelfth (1/12th) of such excess Tenant’s Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's ’s Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's ’s Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Building Lease (Monolithic System Technology Inc)
Estimate Statement. Prior to the Commencement Date and on or about March April 1st of each subsequent calendar year during the Term of this LeaseLease (or as soon thereafter as reasonably possible), Landlord will endeavor to shall deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) Tenant’s estimated Monthly Operating Expense Charge on the first day of such excess each month thereaftermonth, beginning with on the next installment of rent dueCommencement Date, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement (excluding the initial Estimate Statement), Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Operating Expense Charge (less any applicable Tenant’s Share of Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage ’s Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Thereafter, Tenant agrees to pay Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Multi Tenant Industrial Lease (Lacrosse Footwear Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, ; Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in . In the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed owned by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Estimate Statement. Prior to As soon as practicable after the Commencement Date expiration ------------------ of the Base Year, and on or about March as soon as practicable after January 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Percentage of Base Year Operating Expense AllowanceExpenses, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time and from time to time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten twenty (1020) days of receipt of the revised Estimate Statement, Statement the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Percentage of Base Year Operating Expense AllowanceExpenses, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of April of each subsequent calendar year during the Term of this Leaseafter the Base Year, Landlord will endeavor to shall deliver to Tenant a statement ("the “Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses Expenses, Taxes, Insurance Costs, and Tenant's Percentage of Operating Expenses Utilities Costs (the “Estimated Expenses”) for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar yearyear and the estimated amount of Excess Expenses, to Excess Taxes, Excess Insurance Costs, and Excess Utilities Costs (the month of such rent payment next due, all months inclusive“Estimated Excess Expenses”) payable by Tenant. If at any time during the Term of this LeaseTerm, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the estimated amount of Operating Estimated Excess Expenses payable by Tenant for the current calendar year will be greater or less than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Estimated Excess Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In The Estimated Excess Expenses shown on the event Tenant's Percentage Estimate Statement (or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly payment of Operating Rent next due following the receipt of the Estimate Statement (or revised Estimate Statement, as applicable), an amount equal to one (1) monthly installment of such Estimated Excess Expenses for any multiplied by the number of months from January in the calendar year in which such statement is submitted to the month of such payment, both months inclusive (less than Tenant's Operating Expense Allowance, any amounts previously paid by Tenant will not with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year). Subsequent installments shall be entitled to a credit against any rent, additional rent paid concurrently with the regular monthly payments of Rent for the balance of the calendar year and shall continue until the next calendar year’s Estimate Statement (or Tenant's Percentage of future Operating Expenses payable hereundercurrent calendar year’s revised Estimate Statement) is received.
Appears in 1 contract
Estimate Statement. Prior to By the Commencement Date and on first day of April (or about March 1st as soon as practicable thereafter) of each subsequent calendar year during the Term of this Leaseafter the Base Year, Landlord will shall endeavor to deliver to Tenant a statement ("the “Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses Expenses, Taxes, Insurance Costs, and Tenant's Percentage of Operating Expenses Utilities Costs (the “Estimated Expenses”) for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar yearyear and the estimated amount of Excess Expenses, to Excess Taxes, Excess Insurance Costs, and Excess Utilities Costs (the month of such rent payment next due, all months inclusive“Estimated Excess Expenses”) payable by Tenant. If at any time during the Term of this LeaseTerm, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the estimated amount of Operating Estimated Excess Expenses payable by Tenant for the current calendar year will be greater or less than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Estimated Excess Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In The Estimated Excess Expenses shown on the event Tenant's Percentage Estimate Statement (or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly payment of Operating Rent next due following the receipt of the Estimate Statement (or revised Estimate Statement, as applicable), an amount equal to one (1) monthly installment of such Estimated Excess Expenses for any multiplied by the number of months from January in the calendar year in which such statement is submitted to the month of such payment, both months inclusive (less than Tenant's Operating Expense Allowance, any amounts previously paid by Tenant will not with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year). Subsequent installments shall be entitled to a credit against any rent, additional rent paid concurrently with the regular monthly payments of Rent for the balance of the calendar year and shall continue until the next calendar year’s Estimate Statement (or Tenant's Percentage of future Operating Expenses payable hereundercurrent calendar year’s revised Estimate Statement) is received.
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Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, . Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, . Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Building Lease (Virtual Mortgage Network Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this LeaseLease or as soon thereafter as reasonably practicable, Landlord will endeavor to shall prepare and deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess the estimated Tenant's Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate StatementStatement provided that such receipt is not less than five (5) business days before such monthly rent payment is due, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess the estimated Tenant's Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Standard Industrial/Commercial Lease (Axsys Technologies Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord landlord will estimate both the Operating Common Area Expenses and Tenant's Percentage of Operating Expenses ’s Monthly Common Area Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Subject to Section 4.5 above, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant’s estimated Monthly Common Area Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Common Area Expense Charge (less any applicable Operating Common Area Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusiveInclusive. If at any time lime during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage ’s Share of Operating Common Area Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant Xxxxxx agrees to pay Tenant's Percentage of Operating Expenses Xxxxxx’s Monthly Common Area Expense Charge based on such revised Estimate Statement until Tenant Xxxxxx receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Thereafter, Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Building Lease (Virtual Mortgage Network Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant’s estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent duedue (but not earlier than 20 days after Tenant’s receipt of such estimate), until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate StatementStatement (but not earlier than 20 days after Tenant’s receipt of such estimate), Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, quarterly Landlord reasonably determines that Tenant's Percentage ’s Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten twenty (1020) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Multi Tenant Net Commercial Lease (Encore Capital Group Inc)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of May of each subsequent calendar year during the Term of this Leaseafter the Base Year, Landlord will endeavor to shall deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses Expenses, Taxes, Insurance Costs, and Tenant's Percentage of Operating Expenses Utilities Costs for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar yearyear and the estimated amount of Excess Expenses, to the month of such rent payment next dueExcess Taxes, all months inclusiveExcess Insurance Costs, and Excess Utilities Costs payable by Tenant. If at any time during the Term of this LeaseTerm, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the estimated amount of Operating Expenses Excess Expenses, Excess Taxes, Excess Insurance Costs or Excess Utilities Costs payable by Tenant for the current calendar year will be greater or less than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and to the extent of any estimated underpayment, Tenant agrees to pay Landlord, within ten thirty (1030) days of after receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Any estimated overpayment shall be credited to Rent next due. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses Excess Expenses, Excess Taxes, Excess Insurance Costs and Excess Utilities Costs based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year; provided, however. In Tenant shall not be required to pay any Excess Expenses, Excess Taxes, Excess Insurance Costs and Excess Utilities Costs during the event Tenant's Percentage of Operating Expenses for any first calendar year immediately following the Base Year (i.e., calendar year 2012) until Landlord delivers an Estimate Statement for such calendar year. The Excess Expenses, Excess Taxes, Excess Insurance Costs, and/or Excess Utilities Costs shown on the Estimate Statement (or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly payment of Rent next due following the receipt of the Estimate Statement (or revised Estimate Statement, as applicable), an amount equal to one (1) monthly installment of such Excess Expenses, Excess Taxes, Excess Insurance Costs, and Excess Utilities Costs multiplied by the number of months from January in the calendar year in which such statement is submitted to the month of such payment, both months inclusive (less than Tenant's Operating Expense Allowance, any amounts previously paid by Tenant will not with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year). Subsequent installments shall be entitled to a credit against any rent, additional rent paid concurrently with the regular monthly payments of Rent for the balance of the calendar year and shall continue until the next calendar year’s Estimate Statement (or Tenant's Percentage of future Operating Expenses payable hereundercurrent calendar year’s revised Estimate Statement) is received.
Appears in 1 contract
Samples: Office Lease (Inphi Corp)
Estimate Statement. Prior to the Commencement Date and on or about March April 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th1/l2th) of such excess the estimated Tenant's Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess the estimated Tenant's Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Industrial Lease (Cutter & Buck Inc)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of each subsequent calendar year during the Term of this LeaseLease commencing with calendar year 2013, Landlord will shall endeavor to deliver to Tenant a statement ("“Estimate Statement"” ) wherein Landlord will estimate both estimating the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year and the estimated amount of Excess Expenses payable by Tenant. Landlord shall have the right during any calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement showing the Excess Expenses for such calendar year if Landlord determines that the Excess Expenses are greater than or less than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Excess Expenses shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Excess Expenses already paid) multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time amounts previously paid by Tenant with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year); provided, however, that with respect to the first Estimate Statement submitted, Tenant shall also pay the Excess Expenses for those months, if any, during the Term which occurred prior to January of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses the calendar year in which such first Estimate Statement is submitted. Subsequent installments shall be paid concurrently with the regular monthly rent payments for the current balance of the calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement shall continue until Tenant receives the next calendar year's ’s Estimate Statement (or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year ’s revised Estimate Statement) is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunderreceived.
Appears in 1 contract
Samples: Lease Agreement (Ryland Group Inc)
Estimate Statement. Prior to the Commencement Date and on On or about March 1st of each subsequent calendar year during the Term of this LeaseLease Year after Tenant’s Base Year, Landlord or as soon thereafter as is reasonably possible, Lessor will endeavor to deliver to Tenant Lessee a statement ("“Estimate Statement"”) wherein Landlord Lessor will estimate both the Operating Expenses and Tenant's Lessee’s Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Lessee’s Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Lessee’s Operating Expense Allowance, Tenant Lessee agrees to pay LandlordLessor, as "Additional Rent"“additional rent”, one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord Lessor issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant Lessee agrees to pay Landlord Lessor an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord Lessor reasonably determines that Tenant's Lessee’s Percentage of Operating Expenses for the current calendar year will be greater or lesser than the amount set forth in the then current Estimate Statement, Landlord may Lessor shall issue a revised Estimate Statement and Tenant Lessee agrees to pay LandlordLessor, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant Lessee under such revised Estimate Statement and the amount owed by Tenant Lessee under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant Lessee agrees to pay Tenant's Lessee’s Percentage of Operating Expenses based on such revised Estimate Statement until Tenant Lessee receives the next calendar year's years Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Lessee’s Percentage of Operating Expenses for any calendar year is less than Tenant's Lessee’s Operating Expense Allowanceallowance, Tenant Lessee will not be entitled to a credit against any rent, additional rent or Tenant's Lessee’s Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Lease (Ign Entertainment Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to shall deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar yearyear (the "Estimated Operating Expenses"). If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess the amount equal to the Estimated Operating Expenses multiplied by the Tenant's Percentage ("Tenant's Estimated Operating Expenses") each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that. If the Estimate Statement delivered on or about March 1 of any year provides for an increase in the amount of Tenant's Estimated Operating Expenses over the amount then being paid, concurrently with Tenant shall pay Landlord the regular monthly rent payment next due following difference between (i) the receipt of each amounts paid during such calendar year pursuant to the previous Estimate Statement, and (ii) the amount that would have been due for the same period under the newly issued Estimate Statement, within thirty (30) days of delivery to Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusivenew Estimate Statement. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount Tenant's Estimated Operating Expenses set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter thereafter Tenant agrees to pay Tenant's Percentage of Estimated Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior If for any Lease Year of the Term, the real property taxes and assessments for such Lease Year are anticipated to increase over the Commencement Date real property taxes and on or about March 1st of each subsequent calendar year during assessments paid for the Term of this LeaseBase Year and/or the Landlord's insurance premiums for such Lease Year are anticipated to increase over the Landlord's insurance premiums paid for the Base Year, Landlord will estimate the amount of any such increase in real property taxes and assessments and/or Landlord's insurance premiums and will endeavor to deliver to Tenant Tenant, on or before March 1st of that Lease Year, a statement (the "Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage share of Operating Expenses the increase in real property taxes and assessments and/or Landlord's insurance premiums for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess for each month thereafter, beginning with the next installment of rent due, Tenant's Share of the estimated increases in real property taxes and assessments over the real property taxes and assessments paid for the Base Year and Tenant's Share of the estimated increases in Landlord's insurance premiums over the Landlord's insurance premiums paid for the Base Year, until such time as Landlord issues a revised Estimate Statement or the an Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay to Landlord an amount equal to one monthly installment of such excess Tenant's Share of the estimated increases in real property taxes and assessments and/or Landlord's insurance premiums (less any applicable Operating Expenses payments of estimated increases already paidpaid by Tenant) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Lease Agreement (Softlink Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Industrial Lease (AcuNetx, Inc.)
Estimate Statement. Prior Landlord will use good faith efforts to the Commencement Date and deliver to Tenant on or about March 1st 1, 1996 and, thereafter, on or about March 1 of each subsequent calendar year later Comparison Year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses for the then-current Comparison Year and Tenant's Percentage of the excess of the Operating Expenses for the then then-current calendar yearComparison Year over the Operating Expenses for the Base Year. If Landlord is unable to provide such a statement by March 1 of any year, then Landlord shall use good faith efforts to deliver such a statement to Tenant as soon as possible thereafter. Commencing on the estimate first anniversary of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense AllowanceCommencement Date, Tenant agrees to shall pay Landlord, as "Additional Rent", one-," one- twelfth (1/12th) of such excess each month thereafter, beginning Tenant's Percentage of Landlord's estimate of the amount by which Landlord's estimate of Operating Expenses for the applicable Comparison Year will exceed the Operating Expenses for the Base Year. Such payments shall begin with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; Comparison Year, except that, that concurrently with the next regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of Tenant's Percentage of Landlord's estimate of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the beginning of the then-current calendar yearComparison Year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of increases in Operating Expenses payable for the then-current calendar year Comparison Year will be greater than the amount set forth in the then then- current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year Comparison Year which has expired. Thereafter Thereafter, Tenant agrees to shall pay Tenant's Percentage of increases in Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Comparison Year Estimate Statement or a new revised Estimate Statement for the current calendar yearComparison Year. In the event Tenant's Percentage of If Operating Expenses for any calendar year Comparison Year is less than Tenant's Operating Expense AllowanceExpenses for the Base Year, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Office Building Lease (Interplay Entertainment Corp)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of April of each subsequent calendar year during the Term of this LeaseLease commencing with calendar year 2010, Landlord will endeavor shall use commercially reasonable efforts to deliver to Tenant a statement ("“Estimate Statement"” ) wherein Landlord will estimate both estimating the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar yearyear and the estimated amount of Excess Expenses payable by Tenant. If Landlord shall have the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees right during any calendar year to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement showing the Excess Expenses for such calendar year if Landlord reasonably and actually determines that the Excess Expenses are greater than or less than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Excess Expenses shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent Base Rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Excess Expenses already paid) multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time amounts previously paid by Tenant with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year); provided, however, that with respect to the first Estimate Statement submitted, Tenant shall also pay the Excess Expenses for those months of the calendar year 2010, if any, during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses which occurred prior to the date in which such first Estimate Statement is submitted. Subsequent Installments shall be paid concurrently with the regular monthly Base Rent payments for the current balance of the calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement shall continue until Tenant receives the next calendar year's ’s Estimate Statement (or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year ’s revised Estimate Statement) is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunderreceived.
Appears in 1 contract
Samples: Lease Agreement (First California Financial Group, Inc.)
Estimate Statement. Prior to the Commencement Date and on or about March 1st January 1 of each subsequent calendar year during the Term of this LeaseTerm, Landlord will endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and TenantXxxxxx's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently Concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees shall pay to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Lease Landlord reasonably determines that TenantXxxxxx's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within Statement. Within ten (10) days of receipt after delivery of the revised Estimate Statement, Tenant shall pay to Landlord the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to shall pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant Xxxxxx receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Lease Agreement (Eyeonics Inc)
Estimate Statement. Prior to the Commencement Date and on On or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord Lessor will endeavor to deliver to Tenant Lessee a statement ("Estimate Statement") wherein Landlord Lessor will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the tile then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant Lessee agrees to pay LandlordLessor, as "Additional Rent", one-twelfth (1/12th) of such excess Operating Expenses each month thereafter, beginning with the tile next installment of rent due, until such time as Landlord Lessor issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant Lessee agrees to pay Landlord Lessor an amount equal to one monthly installment of such excess Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord Lessor reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord Lessor may issue a revised Estimate Statement and Tenant Lessee agrees to pay LandlordLessor, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant Lessee under such revised Estimate Statement and the amount owed by Tenant Lessee under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant Lessee agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant Lessee receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Standard Industrial/Commercial Single Tenant Lease Net (Source Scientific Inc)
Estimate Statement. Prior to By the Commencement Date and on or about March 1st first day of April of each subsequent calendar year during the Term of this LeaseLease (after the Base Year noted in Section 1.10 of the Summary), Landlord will shall endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both estimating the Operating Expenses Expenses, Real Property Taxes and Tenant's Percentage of Operating Expenses Assessments, Insurance Costs, and Utilities Costs for the then current calendar yearyear payable by Tenant. If Landlord shall have the estimate of Tenant's Percentage of Operating Expenses right no more than two (2) times in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees any calendar year to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues deliver a revised Estimate Statement for such calendar year if Landlord reasonably determines that the Operating Expenses, Real Property Taxes and Assessments, Insurance Costs, and/or Utilities Costs are greater than those set forth in the original Estimate Statement (or previously delivered revised Estimate Statement) for such calendar year. The Operating Expenses, Real Property Taxes and Assessments, Insurance Costs, and/or Utilities Costs shown on the Estimate Statement for the succeeding calendar year; except that(or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of each such the Estimate Statement (or revised Estimate Statement, Tenant agrees to pay Landlord as applicable), an amount equal to one (1) monthly installment of such excess (less any applicable Operating Expenses already paid) Expenses, Real Property Taxes and Assessments, Insurance Costs, and Utilities Costs multiplied by the number of months from January, January in the current calendar year, year in which such statement is submitted to the month of such rent payment next duepayment, all both months inclusive. If at inclusive (less any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current amounts previously paid by Tenant with respect to any previously delivered Estimate Statement, Landlord may issue a Statement or revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt for such calendar year). Subsequent installments shall be paid concurrently with the regular monthly rent payments for the balance of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement and shall continue until Tenant receives the next calendar year's Estimate Statement (or a new revised Estimate Statement for the current calendar year's revised Estimate Statement) is received. In the event Within fifteen (15) days of receipt of Tenant's Percentage written request therefore, Landlord will provide reasonable supporting data and a breakdown of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, element of the Estimated Statement requested by Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage as well as evidence of future Operating Expenses payable hereunderactual payment of Real Property Taxes and Assessments after payment by Landlord.
Appears in 1 contract
Samples: Office Lease (Good Guys Inc)
Estimate Statement. Prior to By the Commencement Date and on first day of April (or about March 1st as soon as practicable thereafter) of each subsequent calendar year during the Term of this Leaseafter the Base Year, Landlord will shall endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both estimating the Operating Expenses and Tenant's Percentage of Operating Expenses Taxes for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent", one-twelfth (1/12th) of such excess each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to year and the month estimated amount of such rent payment next due, all months inclusiveExcess Expenses and Excess Taxes payable by Tenant. If at any time during the Term of this LeaseTerm, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the estimated amount of Operating Excess Expenses or Excess Taxes payable by Tenant for the current calendar year will be greater or less than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of after receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Excess Expenses and Excess Taxes based on such revised Estimate Statement (provided that such revised Estimate Statement is received at least ten (10) business days prior to the next payment date for the Excess Expenses and/or Excess Taxes) until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In The Excess Expenses and/or Excess Taxes shown on the event Tenant's Percentage Estimate Statement (or revised Estimate Statement, as applicable) shall be divided into twelve (12) equal monthly installments, and Tenant shall pay to Landlord, concurrently with the regular monthly payment of Operating Rent next due following the receipt of the Estimate Statement (or revised Estimate Statement, as applicable), an amount equal to one (1) monthly installment of such Excess Expenses for any and Excess Taxes multiplied by the number of months from January in the calendar year in which such statement is submitted to the month of such payment, both months inclusive (less than Tenant's Operating Expense Allowance, any amounts previously paid by Tenant will not with respect to any previously delivered Estimate Statement or revised Estimate Statement for such calendar year). Subsequent installments shall be entitled to a credit against any rent, additional rent paid concurrently with the regular monthly payments of Rent for the balance of the calendar year and shall continue until the next calendar year’s Estimate Statement (or Tenant's Percentage of future Operating Expenses payable hereundercurrent calendar year’s revised Estimate Statement) is received.
Appears in 1 contract
Samples: Office Lease (Alteryx, Inc.)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; , except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's years Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Thereafter, Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Multi Tenant Industrial Lease (HNC Software Inc/De)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to shall deliver to Tenant a statement ("Estimate Statement") wherein Landlord will reasonably estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess (less any applicable Tenant's estimated Monthly Operating Expenses already paid) Expense Charge multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusiveinclusive (less any applicable Operating Expenses already paid). If at any time during the Term of this Lease, but not more often than quarterlysemi-annually, Landlord reasonably determines that Tenant's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) 30 days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Thereafter, Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior If for any Expense Year the real property taxes and assessments for such Expense Year are anticipated to increase over the Commencement Date real property taxes and on or about March 1st of each subsequent calendar year during assessments paid for the Term of this LeaseBase Year and/or the Landlord's insurance premiums for such Expense Year are anticipated to increase over the Landlord's insurance premiums paid for the Base Year, Landlord will estimate the amount of any such increase in real property taxes and assessments and/or Landlord's insurance premiums and will endeavor to deliver to Tenant Tenant, on or before March 1st of that Expense Year, a statement (the "Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage Share of Operating Expenses the increase in real property taxes and assessments and/or Landlord's insurance premiums for the then current calendar yearsuch Expense Year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) for each month of such excess each month thereafterExpense Year, beginning with Tenant's Share of the next installment estimated increases in real property taxes and assessments over the real property taxes and assessments paid for the Base Year and Tenant's Share of rent duethe estimated increases in Landlord's insurance premiums over the Landlord's insurance premiums paid for the Base Year, until such time as Landlord issues a revised Estimate Statement or the an Estimate Statement for the succeeding calendar yearExpense Year; except thatthat if Landlord has not issued an Estimate Statement for an Expense Year until after the commencement of such Expense Year, then, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay to Landlord an amount equal to one monthly installment of such excess (less any applicable Operating Expenses already paid) Tenant's Share of the estimated increases in real property taxes and assessments and/or Landlord's insurance premiums multiplied by the number of months in the period from January, in the current calendar yearExpense Year, to the month of such rent payment next due, all months inclusive. If at , less any time during the Term applicable payments of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed estimated increases already paid by Tenant under for such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expiredperiod. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.MISSION PARK BUSINESS CENTER
Appears in 1 contract
Samples: Lease Agreement (Nanosensors Inc)
Estimate Statement. Prior to the Commencement Date and on or about March 1st February 15 of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th1/l2th) of such excess the estimated Tenant's Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess the estimated Tenant's Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
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Samples: Lease Agreement (Illumina Inc)
Estimate Statement. Prior to the Commencement Date and on or about March May 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenantthe Building's Percentage Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Single Tenant Industrial Lease (Alliance Pharmaceutical Corp)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of o/ this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate Statement") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant's estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for /or the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant's estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's's Percentage share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of o/ the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Lease Agreement (Litronic Inc)
Estimate Statement. Prior to the Commencement Date and on or about March May 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Tenant’s Monthly Operating Expenses and Tenant's Percentage of Operating Expenses Expense Charge for the then current currant calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, year Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant’s estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. inclusive If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage the Building’s Share of Operating Expenses for the current calendar year will be greater greeter than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. expired Thereafter Tenant agrees to pay Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Single Tenant Industrial Lease (Imcor Pharmaceutical Co)
Estimate Statement. Prior to the Commencement Date and on or about March 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("“Estimate Statement"”) wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th) of such excess Tenant’s estimated Monthly Operating Expense Charge each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess Tenant’s estimated Monthly Operating Expense Charge (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage ’s Share of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten (10) days such greater amount in the next monthly installment of receipt of the revised Estimate Statementrent due, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of ’s Monthly Operating Expenses Expense Charge based on such revised Estimate Statement until Tenant receives the next calendar year's ’s Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Estimate Statement. Prior to the Commencement Date and on or about March April 1st of each subsequent calendar year during the Term of this Lease, Landlord will endeavor to deliver to Tenant a statement ("Estimate StatementESTIMATE STATEMENT") wherein Landlord will estimate both the Operating Expenses and Tenant's Percentage of Operating Expenses for the then current calendar year. If the estimate of Tenant's Percentage of Operating Expenses in the Estimate Statement exceeds Tenant's Operating Expense Allowance, Tenant agrees to pay Landlord, as "Additional Rent"additional rent, one-twelfth (1/12th1/l2th) of such excess the estimated Tenant's Percentage of Operating Expenses each month thereafter, beginning with the next installment of rent due, until such time as Landlord issues a revised Estimate Statement or the Estimate Statement for the succeeding calendar year; except that, concurrently with the second regular monthly rent payment next due following the receipt of each such Estimate Statement, Tenant agrees to pay Landlord an amount equal to one monthly installment of such excess the estimated Tenant's Percentage of Operating Expenses (less any applicable Operating Expenses already paid) multiplied by the number of months from January, in the current calendar year, to the month of such rent payment next due, all months inclusive. However, Landlord shall not issue more than one (1) Estimate Statement during any calendar year, unless Landlord reasonably determines that the Operating Expenses will exceed the amount upon which the previous Estimate Statement was based by more than fifteen percent (15%). If at any time during the Term of this Lease, but not more often than quarterly, Landlord reasonably determines that Tenant's Percentage of Operating Expenses for the current calendar year will be greater than the amount set forth in the then current Estimate Statement, Landlord may issue a revised Estimate Statement and Tenant agrees to pay Landlord, within ten thirty (1030) days of receipt of the revised Estimate Statement, the difference between the amount owed by Tenant under such revised Estimate Statement and the amount owed by Tenant under the original Estimate Statement for the portion of the then current calendar year which has expired. Thereafter Tenant agrees to pay Tenant's Percentage of Operating Expenses based on such revised Estimate Statement until Tenant receives the next calendar year's Estimate Statement or a new revised Estimate Statement for the current calendar year. In the event Tenant's Percentage of Operating Expenses for any calendar year is less than Tenant's Operating Expense Allowance, Tenant will not be entitled to a credit against any rent, additional rent or Tenant's Percentage of future Operating Expenses payable hereunder.
Appears in 1 contract
Samples: Lease (Apria Healthcare Group Inc)