Expense Adjustment. Tenant shall pay to Landlord, as Additional Rent, an amount ("Expense Amount") equal to Tenant's Proportionate Share of the Shared Operating Expenses incurred with respect to each Lease Year. The Tenant's Proportionate share of the Shared Operating Expenses, for the fourth floor premises, shall be twenty-five percent (25%) of the total Shared Operating Expenses for the building. If space on the third floor is leased (in accordance with section 18.2) Tenant shall pay its proportionate share of the third floor expenses. These expenses are stipulated to be twenty-five percent (25%) of the total shared operating expenses. This amount with respect to each Lease Year shall be paid in monthly installments, in an amount reasonably estimated from time to time by Landlord and communicated by written notice to Tenant. Not later than ninety (90) days after the end of each Lease Year, Landlord shall cause the amount of the Expense Amount for such Lease Year to be computed based on Operating Expenses for such Lease Year for the Building and Landlord shall deliver to Tenant a statement of such amount and Tenant shall pay any deficiency to Landlord as shown by such statement within ninety (90) days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Lease Year pursuant to this Section 5.3 exceeds the actual Expense Amount due from Tenant for such Lease Year, such excess shall be refunded by Landlord within thirty (30) days after the end of the previous Lease Year. Tenant shall also pay to Landlord, as Additional Rent, an amount equal to the costs for the Exclusive Operating Expenses and the Additional Operating Expenses, except to the extent such items are metered or submetered to Tenant and paid directly by Tenant.
Expense Adjustment. (i) Tenant shall pay as additional rent for each Calendar Year, that amount (“Expense Adjustment Amount”) which is Tenant’s Proportionate Share of the amount by which the Operating Expenses incurred with respect to such Calendar Year exceed the amount thereof incurred with respect to the Base Year; provided, however, that in determining the amount of Operating Expenses for each Calendar Year subsequent to the Base Year, if less than 95% of the Rentable Area of the Building shall have been occupied at any time during such Calendar Year, Operating Expenses shall be deemed for such Calendar Year to be in the amount reasonably determined by Landlord to be equal to that amount of like expenses which normally would be expected to be incurred had such occupancy been 95% throughout such Calendar Year.
Expense Adjustment. In addition to Monthly Base Rent, Tenant shall pay with respect to each Adjustment Year an amount equal to Tenant's Share of Operating Expenses for the Adjustment Year in excess of the Base Expenses ("Expense Adjustment"). As to any Adjustment Year during the Term which does not begin on January 1st or does not end on December 31st, Expense Adjustment with respect to such Adjustment Year shall be prorated on a per diem basis. Notwithstanding anything contained herein to the contrary, Operating Expenses shall be deemed not to increase more than $.50 per rentable square foot per calendar year (determined on a cumulative basis throughout the Term of the Lease); provided that the foregoing cap on Operating Expenses shall not apply to the following components of Operating Expenses: taxes, insurance, and utilities.
Expense Adjustment. (a) For the purposes of this Paragraph 4D, the following terms are defined as follows:
Expense Adjustment. In consideration of the surrender of the Surrendered Office and the lease of the Office, Schedule L and Schedule O shall be adjusted as follows:
Expense Adjustment. The Purchase Price shall be adjusted: (a) upward by an amount equal to all Ordinary Course Expenses and all other costs and expenses paid by Seller or any of its Affiliates and attributable to the ownership or operation of the Assets on and after the Effective Date, including all such costs and expenses paid under the C&O Agreement; and (b) downward for all Ordinary Course Expenses and all costs and expenses paid by Buyer or any of its Affiliates and attributable to the ownership or operation of the Assets prior to the Effective Date, including all such costs and expenses paid under the C&O Agreement, but excluding any costs attributable to each of the liabilities excluded from the term “Ordinary Course Expenses.”
Expense Adjustment. In accordance with Section 5.3 of this ------------------ in Agreement, the event that the Third Party Expenses (as defined in Section 5.3 hereof) incurred by the Company exceeds the sum of $150,000, then (i) to the extent any such excess is known as of the Closing Date the cash consideration payable pursuant to Section 1.6 to the holders of Company Class B Common Stock shall be reduced by the amount of such excess, and (ii) to the extent any such excess is not known as of the Closing Date the excess shall when known be paid to Splash out of the Escrow Fund described in Article VII.
Expense Adjustment. (i) Tenant shall pay as Additional Rent an amount (the "Expense Adjustment Amount") equal to Tenant's Share of the Operating Expenses for each Lease Year, except that Tenant shall be required to pay only a pro rata amount of the Expense Adjustment Amount for the Lease Years in which the first and last days of the Term occur prorated on a per diem basis.
Expense Adjustment. The Expense Adjustment Amount with respect to each Calendar Year after 2003 shall be paid in monthly installments, in advance on the first day of each calendar month during the course of such year, in amounts estimated by Landlord not more often than once per calendar year and communicated by written notice to Tenant. Landlord shall cause to be kept books and records showing Operating Expenses in accordance with generally accepted accounting principles. Within 240 days, following the close of each Calendar Year after December 31, 2004, Landlord shall cause the amount of the Expense Adjustment Amount for such Calendar Year to be computed based on Operating Expenses for such Calendar Year, and Landlord shall deliver to Tenant a statement of such amount including a reasonably detailed description of the items of Operating Expenses incurred; thereupon Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceed the actual Expense Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord's option, such excess shall be either credited against any Rent then owed or next subsequently due by Tenant to Landlord or promptly refunded by Landlord. Notwithstanding any provision contained in this Lease to the contrary, Tenant shall not be obligated to pay any Expense Adjustment Amount for or during Calendar Years 2002 and 2003.
Expense Adjustment. Buyer shall pay Seller and Seller's Affiliates [***] calculated on a pro rata basis [***]. Such purchase price adjustment shall be reduced by the gross profit (sale price less invoice cost for new boats and NADA used trade in value for used boats) on any boat [***] delivered prior to Closing. These adjustments shall be reflected on the Closing Statement.
