Common use of Final Statement Clause in Contracts

Final Statement. After the end of the Base Year and each Comparison Year (including the Comparison Year in which the Lease Term terminates), Landlord shall deliver to Tenant a final statement (“Landlord’s Final Statement’“) showing a reasonably detailed line item description of Tenant’s Share of the annual actual Excess Direct Expenses for the prior calendar year. Landlord shall diligently endeavor to deliver to Tenant the Landlord’s Statement for each Comparison Year and the Base Year on or before May 31st of the succeeding year. If Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such Comparison Year, within thirty (30) days of delivery of such Landlord’s Statement, Tenant shall pay Landlord the amount of such excess over the estimated payments already made by Tenant. If the Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, the amount of such overpayment shall be credited against the installments of Monthly Rent next coming due (immediately following preparation of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments for the Comparison Year in which the Lease Term terminates shall be paid by Landlord to Tenant within thirty (30) days after delivery of the Landlord’s Statement. Objections by Tenant shall not excuse or xxxxx Tenant’s obligation to make the payments required under this Section 7.5 (or under Section 7.4) pending the resolution of Tenant’s objection.

Final Statement. After Following the end of the Base Year each Comparison Year, Sublandlord shall furnish to Subtenant a final statement of actual Costs of Operation and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I of each Comparison Year (including after the Comparison Year in which the Lease Term terminates), Landlord shall deliver to Tenant a final statement (“Landlord’s Final Statement’“) showing a reasonably detailed line item description of Tenant’s Share of the annual actual Excess Direct Expenses for the prior calendar year. Landlord shall diligently endeavor to deliver to Tenant the Landlord’s Statement for each Comparison Year and the Base Year on or before May 31st of the succeeding year. If Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such first Comparison Year, within ). Within thirty (30) days of delivery of such Landlord’s Statement, Tenant shall pay Landlord the amount of such excess over the estimated payments already made by Tenant. If the Tenant’s Share presentation of the amount of actual Excess Direct Expenses due final statement for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, the Subtenant shall pay Sublandlord, as Additional Charges, any amount due for Subtenant's Share of such Taxes and Costs of Operation. Any credit due Subtenant for overpayment of Subtenant's Share of Taxes and Costs of Operation shall be credited against the monthly installments of Monthly Basic Rent next coming due (immediately following preparation except that Sublandlord shall refund to Subtenant the amount of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments any such credit for the final Comparison Year in the Sublease Term to the extent that no amounts are then owing by Subtenant hereunder). Subtenant shall have 120 days after presentation of Sublandlord's statement of actual Taxes and Costs of Operation within which to object or question in writing to the Lease Term terminates accuracy of the statement in accordance with the terms of subsection (e) below; unless Subtenant so objects within said 120-day period, Sublandlord's statement shall be paid conclusive and binding on Subtenant. Objection by Landlord to Tenant within thirty (30) days after delivery of the Landlord’s Statement. Objections by Tenant Subtenant shall not excuse or xxxxx Tenant’s Subtenant's obligation to make the payments required under by this Section 7.5 (or under Section 7.4) 4.2 pending the resolution of Tenant’s Subtenant's objection.

Final Statement. After As soon as reasonably practicable after the end of the Base Year each Comparison Year, Landlord shall present Tenant with a final statement of actual Operating Expenses, Insurance and each Taxes for that Comparison Year (including "Final Statement"). Within thirty (30) days of presentation of the final statement, Tenant shall pay Landlord, as Additional Charges, any amount due for Tenant's Share of Insurance and Taxes and Tenant's Share of Operating Expenses subject to the limitations set forth in Section 5.2. Any credit due Tenant for overpayment of Tenant's Share of Insurance and Taxes or Tenant's Share of Operating Expenses shall be credited against the monthly installments of Tenant's Share of Operating Expenses or Tenant's Share of Insurance and Taxes next coming due (except that Landlord shall refund to Tenant the amount of any such credit for the final Comparison Year in which the Lease Term terminatesTerm), Landlord . Tenant shall deliver to Tenant a have thirty (30) days after presentation of Landlord's final statement of actual Insurance, Taxes and Operating Expenses within which to object in writing to the accuracy of the statement; and shall be entitled to receive reasonable documentation and information relating to the sums set forth in the statement. Upon expiration of said thirty (“30) day period, Landlord’s Final Statement’“) showing a reasonably detailed line item description 's statement shall be conclusive and binding on Tenant, provided Tenant has not objected to such statement. Objection by Tenant shall not excuse or abatx Xxxant's obligation to make the payments required by this paragraph pending resolution of Tenant’s Share of 's objection. In the annual actual Excess Direct Expenses for the prior calendar year. event Landlord shall diligently endeavor to deliver to and Tenant the Landlord’s Statement for each Comparison Year and the Base Year on or before May 31st of the succeeding year. If cannot resolve Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such Comparison Year, 's objection within thirty (30) days of delivery receipt of such Landlord’s Statementnotice by Landlord of Tenant's objection, and Tenant shall pay Landlord the amount of such excess over the estimated payments already made by Tenant. If the Tenant’s Share is not in default under any provision of the amount Lease, they shall each appoint an arbitrator, both of actual Excess Direct Expenses due for whom shall select a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, third arbitrator. The decision of the amount of such overpayment arbitrators shall be credited against the installments of Monthly Rent next coming due (immediately following preparation of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments for the Comparison Year in which the Lease Term terminates shall be paid by Landlord to Tenant made within thirty (30) days after delivery of such appointment and shall be final, and shall be pursuant to the then existing rules of the American Arbitration Association. It shall be a condition precedent to arbitration that Tenant have paid the total charges for Tenant's share of Operating Expenses, Taxes and Insurance appearing on Landlord’s 's statement. The party ruled in error by the arbitration shall bear the total costs associated with the arbitration. In the event that the difference between the amount of Operating Expenses, Taxes and Insurance set forth on the Final Statement and the actual amount of Operating Expenses, Taxes and Insurance is less than five percent (5%) of the Final Statement. Objections by , then Tenant shall not excuse or xxxxx Tenant’s obligation to make bear its own and Landlord's costs of the payments required under this Section 7.5 (or under Section 7.4) pending the resolution of Tenant’s objectionarbitration.

Final Statement. After As soon as practicable after the end of the Base Year and each Comparison Year (including but in no event later than April 30 following the end of such Comparison Year in which the Lease Term terminatesYear), Landlord shall deliver to present Tenant with a final statement (“Landlord’s Final Statement’“) showing a reasonably detailed line item description of Tenant’s Share of the annual actual Excess Direct Operating Expenses and Taxes for the prior calendar year. Landlord shall diligently endeavor to deliver to Tenant the Landlord’s Statement for each that Comparison Year and the Base Year on or before May 31st Landlord’s calculation of the succeeding year. If Tenant’s Share of the amount of actual Excess Direct Expenses due Operating Expenses-Adjustment for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such that Comparison Year, within . Within thirty (30) days of delivery presentation of such Landlord’s Statementthe final statement, Tenant shall pay Landlord the Landlord, as Additional Charges, any amount of such excess over the estimated payments already made by Tenant. If the due for Tenant’s Share of the amount Taxes and Operating Expenses. Any credit due Tenant for overpayment of actual Excess Direct Tenant’s Share of Taxes or Operating Expenses due for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, the amount of such overpayment shall be credited against the monthly installments of Monthly Annual Base Rent next coming due (immediately following preparation except that Landlord shall refund to Tenant the amount of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that overpayments any such credit for the final Comparison Year in which the Lease Term terminates which amount shall be paid by Landlord to Tenant within thirty (30) days after delivery following the expiration of the Term or any applicable Renewal Term). Tenant shall have ninety (90) days after presentation of Landlord’s Statementfinal statement of actual Taxes and Operating Expenses within which to object in writing to the accuracy of the statement; after expiration of said ninety (90) day period, Landlord’s statement shall be conclusive and binding on Tenant. Objections Objection by Tenant shall not excuse or xxxxx Tenant’s obligation to make the payments required under by this Section 7.5 (or under Section 7.4) paragraph pending the resolution of to Tenant’s objection.