Estimates and Payments. Tenant covenants and agrees to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment for the then current calendar year. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such amounts monthly to Landlord in the same manner and at the same time as Base Monthly Rent. As soon as is reasonably practicable following the end of each calendar year, Landlord will submit to Tenant a statement showing in reasonable detail Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment for such calendar year (each, an “Operating Statement”). However, the failure or delay by Landlord to provide Tenant with an Operating Statement shall not constitute a waiver by Landlord of Tenant’s obligation to pay its Operating Payment or of Landlord’s rights to send an Operating Statement or a waiver of its right to reconcile Tenant’s Operating Payment. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating Statement. Any monies owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment due from Tenant. Tenant or its representative shall have the right, upon not less than ten (10) days’ prior notice to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review with respect to any such books and records shall be a one (1) time right annually, and shall be limited to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar year. Any payments due under this paragraph 5 shall be prorated for any partial calendar year occurring during the Term. Tenant’s obligation to pay any amounts due under this paragraph 5 and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 for the final year of the Term shall survive the expiration or earlier termination of this Lease.
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Estimates and Payments. Tenant covenants and agrees to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment for the then current calendar year. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 52,000 rentable square feet and is estimated to be $19,881.0012,957.00. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such amounts monthly to Landlord in the same manner and at the same time as Base Monthly Rent. As soon as is reasonably practicable following the end of each calendar year, Landlord will submit to Tenant a statement showing in reasonable detail Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment for such calendar year (each, an “Operating Statement”). However, the failure or delay by Landlord to provide Tenant with an Operating Statement shall not constitute a waiver by Landlord of Tenant’s obligation to pay its Operating Payment or of Landlord’s rights to send an Operating Statement or a waiver of its right to reconcile Tenant’s Operating Payment. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating Statement. Any monies owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment due from Tenant. Tenant or its representative shall have the right, upon not less than ten (10) days’ prior notice to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review with respect to any such books and records shall be a one (1) time right annually, and shall be limited to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar year. Any payments due under this paragraph 5 shall be prorated for any partial calendar year occurring during the Term. Tenant’s obligation to pay any amounts due under this paragraph 5 and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 for the final year of the Term shall survive the expiration or earlier termination of this Lease.
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Estimates and Payments. Tenant covenants Commencing on the first day of the month following the expiration of the Base Year and agrees to pay to Landlordon the first day of each month thereafter during the term of this Lease, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rentAdditional Rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Share of the total dollar increase, if any, in Operating Payment for Expenses to be paid or incurred by Landlord during the then current calendar yearyear in excess of the Base Year Operating Expenses. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such amounts monthly to Landlord in At the same manner and at the same time as Base Monthly Rent. As soon as is reasonably practicable following the end beginning of each calendar year, Landlord shall give Tenant written notice of its estimate of amount payable under Section 3.03 for the ensuing calendar year. On or before the first day of each month during the year, Tenant shall pay to Landlord one-twelfth (1/12) of such estimated amount, provided that if such notice is delayed for any reason, 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 that the amounts payable under Section 3.03 for the current calendar year will submit vary from its estimate by more than five percent (5%), Landlord may, by written notice to Tenant, revise its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate. Within ninety (90) days after the close of each calendar year, or as soon thereafter as practicable, Landlord shall deliver to Tenant a statement showing in reasonable detail Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment for such calendar year (each, an “Operating Statement”). However, ) indicating the failure Operating Expenses for the Building paid or delay incurred by Landlord for the prior calendar year, Tenant’s Share thereof, and the amount that Tenant owes, or is to provide Tenant with an be credited, for the prior year. The Operating Statement shall not constitute a waiver by be final and binding upon Landlord of and Tenant’s obligation to pay its Operating Payment or of Landlord’s rights to send an Operating Statement or a waiver of its right to reconcile Tenant’s Operating Payment. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord as Additional Rent, any additional amounts owed to Landlord as shown on the Operating Statement. Any monies owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment Expenses due from Tenant. Tenant , or its representative shall have if the rightLease Term has expired, upon not less than ten (10) days’ prior notice to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review with respect to any such books and records shall be a one (1) time right annually, and shall be limited paid to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar yearTenant. Any payments due under this paragraph 5 Article 3 shall be prorated for any partial calendar year occurring during the Lease Term. Tenant’s obligation to pay any amounts due under this paragraph 5 Article 3 and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 Article 3 for the final year of the Lease Term shall survive the expiration Expiration Date or earlier termination of this Lease. Unless Tenant shall take written exception to any item contained in an Operating Statement within thirty (30) days after delivery thereof, the Operating Statement shall be deemed final and accepted by Tenant.
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Estimates and Payments. Tenant covenants and agrees to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rentAdditional Rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment Expenses for the then current calendar year. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such amounts monthly to Landlord in the same manner and at the same time as Base Monthly Rent. As soon as is reasonably practicable following the end of each calendar year, Landlord will use reasonable efforts to submit to Tenant by May 1 of each year a statement showing in reasonable detail Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment payments for such calendar year (each, an “Operating Statement”). However, the failure or delay by Landlord to provide Tenant with an Operating Statement shall not constitute a waiver by Landlord of Tenant’s obligation to pay its Operating Payment Expenses or of Landlord’s rights to send an Operating Statement or a waiver of its right to reconcile Tenant’s payments of Operating PaymentExpenses. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating StatementStatement and Landlord shall refund to Tenant any overage held by Landlord which exceeds one thousand dollars ($1,000). Any monies under $1,000 owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment Expenses due from Tenant, and if the Term has expired, shall be paid to Tenant. Tenant or its representative shall have the right, upon not less than ten (10) days’ prior notice rendered no later than twenty (20) days after delivery of an Operating Statement (the “Review Period”), to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review , but no more than once annually with respect to any given calendar year. Unless Tenant shall take written exception to any item contained in the Operating Statement before the expiration of the Review Period, then Tenant will be deemed to have waived any right to object to or challenge the Operating Statement. If timely objection is made by Tenant under this Section 3.3, Landlord and Tenant shall use reasonable good faith efforts to resolve any such books objections within thirty (30) calendar days after the date on Table of Contents which the notice of objection was given by Tenant. If Landlord and records Tenant are unable to resolve such objection within such thirty (30) day period, Landlord and Tenant shall select a mutually acceptable independent certified property manager that has experience in these matters (the “Property Manager”) who shall resolve such dispute. If Landlord and Tenant fail to agree on a Property Manager, each party shall identify its own independent certified property manager and those two property managers shall mutually identify the Property Manager. Tenant shall prepare a written summary (the “Summary”) of its position regarding the proper resolution of the items in dispute. Promptly after the Property Manager has been selected, the parties shall deliver to the Property Manager copies of the Operating Statement initially submitted by Landlord and the Summary prepared by Tenant and shall specify to the Property Manager the individual items still in dispute. Landlord may also elect to submit its own written summary to the Property Manager. The Property Manager shall resolve each item in dispute and give written notice of his decision to Landlord and Tenant within thirty (30) calendar days after his appointment. The determination made as to any items in accordance with the foregoing procedures shall be a one (1) time right annually, final and binding on both Landlord and Tenant as to such items. Any adjustment required to be made to any previous payment made by Tenant by reason of such decision shall be limited made by Tenant or Landlord within ten (10) business days after notice of the final decision has been given to LandlordLandlord and Tenant; provided, however, maintenance and operating costs have been overstated, Landlord may elect to offset the amounts against the next installment of Additional Rent. Landlord will bear the cost of the Property Manager if it is determined that Landlord has overstated Tenant’s books Share of Maintenance and records with respect to Operating Expenses Costs for only the immediately preceding applicable calendar yearyear in excess of $0.25 per square foot of Rentable Area of the Leased Premises. Otherwise, the costs of the Property Manager will be paid by Tenant. Any payments due under this paragraph 5 Article 3 shall be prorated for any partial calendar year occurring during the Term. Tenant’s obligation to pay any amounts due under this paragraph 5 Article 3 and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 Article 3 for the final year of the Term shall survive the expiration Expiration Date or earlier termination of this Lease.
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Samples: Health Grades Inc
Estimates and Payments. Tenant covenants and agrees Landlord will estimate the amount of Operating Expenses to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment be incurred for the then current ensuing calendar year. Commencing upon year and Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00's pro rata share of same. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such said amounts monthly to Landlord in the same manner and at the same time as Base Monthly Minimum Rent. As soon as is reasonably practicable following Within one hundred twenty (120) days after the end of each calendar year, Landlord will submit to Tenant a statement showing in reasonable detail the Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s 's actual Operating Payment for such calendar year (each, an “Operating Statement”)pro rata share. However, the failure or delay Failure by Landlord to provide Tenant with an Operating Statement to tenant such statement within said one hundred twenty (120) days shall not constitute a waiver by Landlord of Tenant’s obligation to pay its Operating Payment or of Landlord’s rights to send an Operating Statement or a waiver of its right to reconcile Tenant’s Operating Paymentcollect the amounts due to Landlord under this Section 3.04. Within thirty (30) days after of receipt of an Operating Statement, such statement and reconciliation Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating StatementLandlord. Any monies owed Tenant by Landlord as a result of said reconciliation shall be applied by Landlord against the next accruing monthly installment(s) of Additional Rent due by Tenant under the Operating Payment due from Tenantterms of this Lease. Tenant or its representative shall have the right, upon not less than ten (10) days’ prior notice at its expense during normal business hours and at the location of Landlord's books and records, to review, at Tenant’s sole cost, audit Landlord’s 's books and records with respect to Operating Expenses during normal business hours, at any time within fifteen (15) days following the location delivery by Landlord to Tenant of Landlord’s books the statement and recordsreconciliation. Tenant’s right of inspection and review with respect Unless Tenant shall take written exception to any item contained therein within twenty (20) days after delivery of the statement and reconciliation, such books and records shall be considered final and accepted by Tenant. If Tenant disputes such statement and reconciliation, Tenant shall pay the monies set forth thereon and any other monies owed by Tenant under this Lease as a one (1) time right annually, and shall be limited condition precedent to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar yearcontesting said obligation. Any payments due under this paragraph 5 Article 3 shall be prorated for any partial calendar the final year occurring during of the TermTerm on the per diem basis in such proportion as Tenant's tenancy of the Premises bears to 365 days. Tenant’s 's obligation to pay any amounts due under this paragraph 5 Article 3 and Landlord’s 's obligation to refund any overpayments made by Tenant under this paragraph 5 for the final year of the Term shall survive the expiration or earlier termination of this Lease.Article
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Samples: Oceanic Exploration Co
Estimates and Payments. Tenant covenants and agrees to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rentAdditional Rent, one-twelfth (1/12) of Landlord’s 's estimate of Tenant’s 's Operating Payment for the then current calendar year. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00. Landlord will give Tenant thirty (30) days written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budgetamounts, and Tenant shall pay such amounts monthly to Landlord in the same manner and at the same time as Base Monthly Rent. At the beginning of each calendar year during the Term, until Landlord furnishes a new estimate to Tenant, Tenant shall continue to pay monthly, one-twelfth (1/12th) of Landlord's estimate of Tenant's Operating Payment for the previous calendar year. At such time as Landlord furnishes Tenant a revised estimate statement for the current calendar year, Tenant shall pay, with its next installment of Base Rent, the amount necessary to bring the Tenant current with the revised estimate as though the revised estimate had been delivered at the beginning of the current calendar year; provided, however, that such estimate may be adjusted no more than twice in any twelve (12) month period. As soon as is reasonably practicable possible following the end of each calendar year, Landlord will submit to Tenant a statement showing in reasonable detail Operating Expenses itemized on a per rentable square foot major line item by line item basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment for such calendar year (each, an “"Operating Statement”"). However, the failure or delay by Landlord to provide Tenant with an Operating Statement shall shall, unless it continues for more than two (2) years following the end of the applicable calendar year, not constitute a waiver by Landlord of Tenant’s 's obligation to pay its Operating Payment or of Landlord’s 's rights to send an Operating Statement such a statement or a waiver of its right to reconcile Tenant’s Operating Payment. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating Statement. Any monies owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment due from Tenant. Tenant or its representative shall have the right, upon not less than ten (10) days’ prior notice to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review with respect to any such books and records shall be a one (1) time right annually, and shall be limited to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar year. Any payments due under this paragraph 5 shall be prorated for any partial calendar year occurring during the Term. Tenant’s obligation to pay any amounts due under this paragraph 5 and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 for the final year of the Term shall survive the expiration or earlier termination of this Lease.'s Operating
Appears in 1 contract
Estimates and Payments. Tenant covenants and agrees to pay to Landlord, as additional rent, Tenant’s Pro Rata Share of any Operating Expenses, in accordance with the provisions hereof (the “Operating Payment”). Tenant agrees to pay monthly, as additional rentAdditional Rent, one-twelfth (1/12) of Landlord’s estimate of Tenant’s Share of Operating Payment Expenses for the then current calendar year. Commencing upon Tenant’s occupancy, Tenant’s initial monthly Operating Payment shall be based on 63,627 rentable square feet and is estimated to be $19,881.00. Landlord will give Tenant written notice from time to time of such estimated amounts determined in good faith by Landlord based upon Landlord’s operating budget, and Tenant shall pay such amounts monthly to Landlord in the same manner and at the same time as Base Monthly Rent. As soon as is reasonably practicable following the end of each calendar year, Landlord will use reasonable efforts to submit to Tenant by May 1 of each year a statement showing in reasonable detail the Operating Expenses on a per rentable square foot basis for the preceding calendar year along with a reconciliation of estimated payments made by Tenant as compared to Tenant’s actual Operating Payment payments for such calendar year (each, an “Operating Statement”). However, the failure or delay by Landlord to provide Tenant with an Operating Statement shall not constitute a waiver by Landlord of Tenant’s obligation to pay its Operating Payment Expenses or of Landlord’s rights right to send an Operating Statement or Statement, nor shall it constitute a waiver of its right to reconcile Tenant’s payments of Operating PaymentExpenses. Within thirty (30) days after receipt of an Operating Statement, Tenant shall pay to Landlord any additional amounts owed to Landlord as shown on the Operating Statement. Any monies owed Tenant by Landlord shall be applied by Landlord against the next accruing monthly installment(s) of the Operating Payment Expenses due from Tenant. Tenant , or its representative shall have if the rightLease Term has expired, upon not less than ten (10) days’ prior notice to review, at Tenant’s sole cost, Landlord’s books and records with respect to Operating Expenses during normal business hours, at the location of Landlord’s books and records. Tenant’s right of inspection and review with respect to any such books and records shall be a one (1) time right annually, and shall be limited paid to Landlord’s books and records with respect to Operating Expenses for only the immediately preceding calendar yearTenant. Any payments due under this paragraph 5 Article III shall be prorated for any partial calendar year occurring during the Lease Term. Tenant’s obligation to pay any amounts due under this paragraph 5 Article III and Landlord’s obligation to refund any overpayments made by Tenant under this paragraph 5 Article III for the final year of the Lease Term shall survive the expiration Lease Expiration Date or earlier termination of this Lease. Unless Tenant shall take written exception to any item contained in an Operating Statement within thirty (30) days after delivery thereof, the Operating Statement shall be deemed final and accepted by Tenant.
Appears in 1 contract
Samples: Lease Agreement (Spacedev, Inc.)
