Estimated Payments Clause Samples
The Estimated Payments clause establishes a process for making payments based on projected or approximate amounts rather than final, exact figures. Typically, this clause allows one party to invoice and receive payment using reasonable estimates of costs, quantities, or services rendered, with adjustments made later once actual amounts are determined. Its core practical function is to facilitate timely cash flow and ongoing operations when precise figures are not immediately available, reducing administrative delays and ensuring that work or services can continue without interruption.
POPULAR SAMPLE Copied 1 times
Estimated Payments. Commencing on the first day of the Term on which Additional Rent is due, and on the first day of each calendar month thereafter during the Term of this Lease, Tenant shall pay Landlord all Additional Rent for:
a) Real estate taxes pursuant to Section 2 above,
b) Insurance premiums pursuant to Section 3 above,
c) HVAC maintenance pursuant to Section 5 above,
d) Common Area Charges pursuant to Section 4 above and
e) Water and common utility use pursuant to Section 14 below. On an annual basis, Landlord shall provide Tenant with (a) a statement of all actual Common Area Charges and insurance premiums incurred in the preceding calendar year and (b) a statement of all charges of real estate taxes assessed against the Property in the preceding fiscal year. If Tenant has made estimated payments of Additional Rent during such calendar/fiscal year in excess of the actual amount due, Landlord shall credit Tenant with any overpayment against the next Rent otherwise due. If the actual Additional Rent due exceeds the estimated payments made by Tenant during the preceding year, Tenant shall pay such amount due as Additional Rent within 15 business days after notice from Landlord. Any failure by Landlord to deliver such statements shall not constitute a default by Landlord or operate as a waiver of Landlord’s right to collect all or any portion of Additional Rent due pursuant to the terms of this Lease. If Additional Rent for any calendar year increases by more than five percent (5%) over Additional Rent for the immediately preceding calendar year, Tenant, within ninety (90) days after receiving Landlord’s statement of actual Additional Rent (inclusive of those which vary with occupancy) for a particular calendar year, shall have the right to provide Landlord with written notice (the “Review Notice”) of its intent to review Landlord’s books and records relating to the Additional Rent for such calendar year. Within a reasonable time after receipt of a timely Review Notice, Landlord shall make such books and records available to Tenant or Tenant’s agent for its review at either Landlord’s home office or at the office of the Building, provided that if Tenant retains an agent to review Landlord’s books and records for any calendar year, such agent must (i) be a CPA firm or an in-house accountant or finance department employee of Tenant, (ii) not be compensated on a contingency basis and (iii) execute a copy of a confidentiality agreement with respect to such review. Tenant s...
Estimated Payments. Commencing on the Commencement Date and continuing throughout the entire Term, Tenant shall pay Tenant’s Project Share of all Common Area Operating Expenses and Tenant’s Building Share of all Building Operating Expenses paid or payable by Landlord in each year. Before commencement of the Term and during December of each calendar year or as soon thereafter as practicable, Landlord shall give Tenant notice of its estimate of amounts payable hereunder for the ensuing calendar year. Such notice shall show in reasonable detail the basis on which the estimate was determined. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth ( 1/12th) of such estimated amounts, provided that if such notice Is not given in December, Tenant shall continue to pay on the basis of the prior year’s estimate until the month after such notice is given. If at any time or times it appears to Landlord, in its reasonable judgment, that the amounts payable hereunder for the current calendar year will vary from its then current estimate by more than five percent (5%), Landlord shall by notice to Tenant, showing in reasonable detail the basis for such variance, revise its estimate for such year, in which case subsequent payments by Tenant for such year shall be based upon such revised estimate.
Estimated Payments. Instead of debiting the Specified Percentage of Merchant’s Receivables, CEDAR may instead debit $65,395.00 (“Estimated Payment”) from the Account every week. The Estimated Payment is intended to be an approximation of no more than the Specified Percentage, subject to reconciliation. Name: ▇▇▇▇▇ ▇ ▇▇▇▇ Title: Date: 12/4/2024
Estimated Payments. During each Operating Expense Year beginning with the first month of the first Operating Expense Year and continuing each month thereafter throughout the Term, Tenant shall pay Landlord, at the same time as Base Rent is paid, an amount equal to Tenant’s Pro Rata Share of one-twelfth (1/12) of Landlord’s estimate of any Operating Expenses for the particular Operating Expense Year (“Estimated Payment”).
Estimated Payments. Following a noncompliance by Tenant of its obligations to pay Taxes or Insurance Premiums as and when due, Landlord may request (which request shall be in writing) as security for the obligations contained in Section 6.1 above, that Term shall deposit monthly with Landlord, or such other entity as Landlord may designate, on the first day of each and every month of the Term, a sum equal to one-twelfth of the last ascertainable amount (or at Landlord’s election, if Landlord’s interest hereunder is at any time subject to the lien of a mortgage or trust deed, a sum equal to one-twelfth of the mortgagee’s estimate of the current amount) of general real estate taxes and annual installments of special assessments levied with respect to the Premises (and, also Insurance Premiums as required under the terms of Section 10.3 of this Lease), which monthly deposits shall be held by Landlord or Landlord’s mortgagee in such account or accounts as may be authorized by then current state or federal banking laws, rules or regulations and which monthly deposits, subject to any provisions to the contrary in documentation securing Landlord’s mortgage indebtedness, shall be used as a fund to be applied, to the extent thereof, to the payment of Taxes and Insurance Premiums as the same become due and payable. The existence of said fund shall not limit or alter Tenant’s obligation to pay the Taxes and Insurance Premiums respecting which the fund was created; provided, however, that so long as Tenant shall not be in default hereunder, said fund shall be fully utilized for the payment of such Taxes and Insurance Premiums; provided, further that the disposition (of any funds held by Landlord’s mortgagee shall be governed by the loan and mortgage documentation entered into by Landlord and said mortgagee. The amount of the fund shall be readjusted annually, on such date as Landlord shall determine, to reflect the actual amount of Taxes and Insurance Premiums. Tenant shall not be entitled to interest on said fund.
Estimated Payments. Under the above referenced lnteragency Agreement, the Parties acknowledge that DHS has a separate and independent obligation to pay MNsure for MNsure administrative costs attributable to the DHS' public health care programs according to the DHS Public Assistance Cost Allocation Plan ("PACAP''). The estimated amounts are as follows:
1. SFY2020: $13,280,000
2. SFY2021: $13,550,000 The amounts specified in this Section are estimates only. This Agreement does not obligate DHS to pay MNsure the amounts estimated in this Section for any service performed in this Agreement or the lnteragency Agreement referenced in Paragraph 1 of this Section, but it does obligate DHS to pay for actual costs as described in the interagency agreement specific to the PACAP.
Estimated Payments. Commencing on the Commencement Date and continuing throughout the entire Term, Tenant shall pay Tenant’s Percentage Share of all other Common Area Maintenance Costs paid or payable by Landlord in each year; provided, however, that Tenant shall pay Tenant’s Building Share of those Common Area Maintenance Costs arising from Landlord’s performance of its obligations under Paragraph 17.A. Before commencement of the Term, and during December of each calendar year or as soon thereafter as practicable, Landlord shall give Tenant written notice of its estimate of amounts payable under this Paragraph 5.C.(i) for the ensuing calendar year. Such notice shall show in reasonable detail the basis on which the estimate was determined. On or before the first day of each month during the ensuing calendar year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts, provided that if such notice is not given in December, Tenant shall continue to pay on the basis of the prior year’s estimate until the month after such notice is given. If at any time or times it appears to Landlord, in its reasonable judgment, that the amounts payable under this Paragraph 5.C.(i) for the current calendar year will vary from its then current estimate by more than five percent (5%), Landlord shall by notice to Tenant, showing in reasonable detail the basis for such variance, revise its estimate for such year, in which case subsequent payments by Tenant for such year shall be based upon such revised estimate.
Estimated Payments. Landlord shall submit to Tenant, before the beginning of each Calendar Year or as soon thereafter as possible, a reasonably itemized statement of Landlord's estimate of the Operating Expenses payable by the Tenant during such Calendar Year. In addition to the Basic Rent, Tenant shall pay to Landlord on or before the first day of each month the property prorated share of estimated operating expenses payable by Tenant for such Calendar Year as set forth in Landlord's statement. If Landlord fails to give Tenant notice of its estimated payments due under this Section for any Calendar Year, then Tenant shall continue making monthly estimated payments in accordance with the estimate for the previous Calendar Year until a new estimate is provided. If the Landlord determines that, because of unexpected increases in Operating Expenses or other reasons, Landlord's estimate of the Operating Expenses was too low, then Landlord shall have the right at any time and from time to time to give a new statement of the estimated Operating Expenses due from Tenant for such Calendar Year or the balance thereof and to bill Tenant for any deficiency which may have accrued dur▇▇▇ such Calendar Year, and Tenant within thirty (30) days after notice from Landlord shall pay such deficiency to Landlord and thereafter Tenant shall pay monthly estimated payments based on such new statement, provided that such an adjustment shall not occur not more often than once per year.
Estimated Payments. During each calendar year or partial calendar year after the Base Year, in addition to Monthly Rent, Tenant shall pay to Landlord on the first day of each month an amount equal to one-twelfth (1/12) of the product of Tenant's Share multiplied by the "Estimated Operating Expenses" (defined below) for such calendar year. "Estimated Operating Expenses" for any calendar year means Landlord's reasonable estimate of Operating Expenses for such calendar year, less the Operating Expenses for the Base Year and shall be subject to revision according to the further provisions of this Section 5.2 and Section 5.
Estimated Payments. Annually, Landlord shall render to Tenant a certified statement (such certification to include that the statement is (a) accurate and complete and (b) prepared in accordance with the terms, covenants, provisions and conditions of this Lease) in reasonable detail showing for the preceding calendar year or fraction thereof, as the case may be, the Operating Expenses and Tenant’s Proportionate Share of Operating Expenses and prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) consistently applied. The Landlord shall use diligent efforts to deliver the statement not later than ninety (90) days after the end of each calendar year or fraction thereof at the beginning or at the end of the Lease Term. Said statement to be rendered to Tenant also shall show for the preceding calendar year or fraction thereof, as the case may be, the amounts of Operating Expenses already paid by Tenant. If at the time such statement is rendered it is determined with respect to any calendar year that Tenant has paid (i) less than Tenant’s Proportionate Share of Operating Expenses or (ii) more than Tenant’s Proportionate Share of Operating Expenses, then, in the case of (i) Tenant shall pay to Landlord, as Additional Rent, within thirty (30) days of such statement the amounts of such underpayment and, in the case of (ii) Landlord shall refund such overpayment to Tenant within thirty (30) days (less any amount then owed to Landlord by Tenant under this Lease, in which case Landlord promptly shall notify Tenant of such offset). The obligation to make such payment or refund for any partial calendar year at the end of the Lease Term shall survive the Lease Term. In no event shall Tenant be obligated to make any payment with respect to any Operating Expense first billed to Tenant more than eighteen (18) months after the end of the calendar year in which the Operating Expense was incurred.