Landlord’s Statement Clause Samples
The Landlord’s Statement clause requires the landlord to provide a formal written declaration or summary regarding specific matters related to the lease, such as rent amounts, compliance with lease terms, or the status of tenant obligations. Typically, this statement may be requested by the tenant or a third party, for example, during a property sale or refinancing, to confirm that the lease is in good standing and to disclose any existing defaults or disputes. The core function of this clause is to ensure transparency and provide reliable information to interested parties, thereby reducing uncertainty and facilitating transactions involving the leased property.
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Landlord’s Statement. (a) Landlord’s failure to render a Landlord’s Statement with respect to any payment period shall not prejudice Landlord’s right to thereafter render a Landlord’s Statement with respect thereto or with respect to any subsequent payment period, nor shall the rendering of a Landlord’s Statement prejudice Landlord’s right to thereafter render a corrected Landlord’s Statement for that payment period. Nothing herein contained shall restrict Landlord from issuing a Landlord’s Statement at any time there is an increase in Pilot, Taxes or Operating Expenses during any payment period or any time thereafter. Notwithstanding the foregoing provisions of this Section 7.5(a), Landlord shall not be entitled to issue a Landlord’s Statement with respect to an Operating Year or Tax Year after the date which is (i) in the case of Taxes, three (3) years after the expiration of the one hundred eighty (180) day period set forth in Section 7.3(c) applicable to such Tax Year and (ii) in the case of Operating Expenses, two (2) years after the expiration of the one hundred eighty (180) day period set forth in Section 7.3(c) applicable to such Operating Year. For the avoidance of doubt, Landlord shall render a Landlord’s Statement with respect to Taxes and Operating Expenses for the Base Pilot Year and the Base Operating Year, as applicable.
(b) In the event that Tenant disputes the Landlord’s Statement or Landlord’s calculation of Operating Expenses, as applicable, then Tenant may send a notice (“Tenant’s Statement”) to Landlord specifying in reasonable detail the reason for Tenant’s disagreement and the amount of Tenant’s Operating Payment and/or any other Additional Rent payable under this Article 7, as applicable, Tenant claims is properly due to Landlord to the extent such amount is then known by Tenant, and requesting to examine Landlord’s books and records relating to Operating Expenses and/or Taxes and/or other Additional Rent in connection with any such dispute, provided that Tenant delivers Tenant’s Statement no later than one hundred eighty (180) days after the date on which Landlord shall have delivered the Landlord’s Statement to Tenant, as described in Section 7.3(c). If Tenant shall not give such Tenant’s Statement within such one hundred eighty (180) day period, then Landlord’s Statement shall be conclusive and binding upon Tenant and Tenant shall be deemed to have waived any further rights to pursue such dispute. Tenant shall have the right to examine Landlord’s book...
Landlord’s Statement. Within one hundred twenty (120) days after the close of each calendar year or as soon thereafter as is practicable, Landlord shall deliver to Tenant a statement of that year's Property Taxes and Operating Expenses, and the actual Tax and Operating Expense Adjustment to be made pursuant to Section 4.2.2 for such calendar year, as determined by Landlord (the "Landlord's Statement"). Such Landlord's Statement shall be binding upon Tenant, except as specifically provided in Section 4.4 below. If the amount of the actual Tax and Operating Expense Adjustment is more than the estimated payments for such calendar year made by Tenant, Tenant shall pay the deficiency to Landlord within five (5) days of receipt of Landlord's Statement. If the amount of the actual Tax and Operating Expense Adjustment is less than the estimated payments for such calendar year made by Tenant, any excess shall be credited against Rent (as hereinafter defined) next payable by Tenant under this Lease or, if the Lease Term has expired, any excess shall be paid to Tenant. No delay in providing the Statement shall act as a waiver of Landlord's right to increase in payment pursuant to the Tax and Operating Expense Adjustment.
Landlord’s Statement. Landlord shall deliver to Tenant within one hundred twenty (120) days after the end of each calendar year during the Term a written statement (the “Statement”) setting out in reasonable detail Tenant’s Proportionate Share of the Common Area Maintenance Costs for such year certified to be correct by Landlord. If the aggregate of the monthly installments actually paid by Tenant to Landlord on account of the estimated Tenant’s Proportionate Share of the Common Area Maintenance Costs during any calendar year (the “Actual Payments”) differs from the amount of Tenant’s Proportionate Share of the Common Area Maintenance Costs payable according to the Statement (the “Obligated Payments”), Tenant shall:
(a) If the Obligated Payments shall exceed the Actual Payments, pay to Landlord, within thirty (30) days after the date of delivery of the Statement, an amount equal to such excess; or
(b) If the Actual Payments shall exceed the Obligated Payments, be granted a credit against the next installment of Tenant’s Proportionate share of the Common Area Maintenance Charges in an amount equal to such overpayment.
Landlord’s Statement. No later than 120 days after the end of each calendar year within the Term, Landlord will determine the actual amount of Property Taxes, Operating Expenses and Tenant’s Share of Expenses for the expired calendar year, and will deliver to Tenant a written statement of such amounts (“Landlord’s Statement”); provided, however, that Landlord shall use commercially reasonable efforts to deliver each Landlord’s Statement to Tenant within 90 days after the end of each calendar year within the Term. Each Landlord’s Statement shall be binding on Landlord once delivered (except as provided in Section 3.5.2), and shall contain a reasonably detailed breakdown of the various components of Expenses, showing how Tenant’s Share of Expenses was determined. If Tenant paid less than the actual amount of Tenant’s Share of Expenses specified in Landlord’s Statement, Tenant will pay the difference to Landlord as Additional Rent within 30 days after its receipt of Landlord’s Statement in the manner Section 2.2 describes. If Tenant paid more than the actual amount of Tenant’s Share of Expenses specified in Landlord’s Statement, Landlord will, at Tenant’s option, either (a) refund the excess amount to Tenant within 30 days after delivery of Landlord’s Statement, or (b) credit the excess amount against Tenant’s next due monthly installment or installments of Rent; provided, however, that if Tenant elects to require Landlord to provide such credit for any such excess in lieu of refunding the same to Tenant, but the amount of such credit is in excess of the amount of Rent due for the balance of the Term, then Landlord shall pay the amount by which the total amount of the credit exceeds the remaining Rent to Tenant within 30 days after the end of the Term. If Landlord is delayed in delivering any Landlord’s Statement to Tenant, such delay does not constitute a waiver of either party’s rights under this Section 3.5. The respective obligations of Landlord and Tenant to reconcile the payment of Tenant’s Share of Expenses, as set forth above, shall survive the expiration of the Term or sooner termination of this Lease for a period of one year.
Landlord’s Statement. Prior to the commencement of each calendar year (including the partial year commencing on the Commencement Date of this Lease), or as soon thereafter as possible, Landlord shall furnish to Tenant a statement (“Landlord’s Statement”) of Landlord’s estimate of the Real Property Taxes and Capital Improvement Amortization expected to be incurred during the calendar year, based on the amount of such Real Property Taxes and Capital Improvement Amortization in the prior calendar year (if any), adjusted for known changes which have or will occur in the Project, the rates charged by suppliers, or other circumstances affecting the amount of such Real Property Taxes or Capital Improvement Amortization during the calendar year in question, and showing the amount, if any, payable by Tenant as additional rent for such calendar year, or portion thereof, pursuant to Sections 4.3.2(b), 4.3.2(c), 4.3.2(d) and any other applicable provisions of this Lease, on the basis of such estimate. Commencing as of January 1st of each calendar year, Tenant shall pay to Landlord one-twelfth (1/12) of the amount of the additional rent estimated for Real Property Taxes and Capital Improvement Amortization, along with the monthly charge for Premises Operating Expenses, on each monthly rent payment date until further adjustment pursuant to this Section 4.3.
Landlord’s Statement. Inspection of Records
Landlord’s Statement. Within one hundred twenty (120) days after the close of each Lease Year or as soon thereafter as is practicable, Landlord shall deliver to Tenant a statement of that year’s Property Taxes and Operating Expenses, and the actual Tax and Operating Expense Adjustment, as determined by Landlord (the “Landlord’s Statement”). No delay in providing the Landlord Statement shall act as a waiver of Landlord’s right to increase in payment pursuant to the Tax and Operating Expense Adjustment. Such Landlord’s Statement shall be binding upon Tenant, except as specifically provided in Section 4.5 below. If the amount of the actual Tax and Operating Expense Adjustment is more than the estimated payments for such calendar year made by Tenant, Tenant shall pay the deficiency to Landlord within five (5) days after receipt of the Landlord’s Statement. If the amount of the actual Tax and Operating Expense Adjustment is less than the estimated payments for such calendar year made by Tenant, any excess shall be credited against the next Rent due (as hereinafter defined) next payable by Tenant under this Lease or, if the Lease Term has expired, any excess shall be paid to Tenant. For any partial Lease Year at the beginning or end of the Term, the Tax and Operating Expense Adjustment shall be prorated on the basis of a 365-day year by computing Tenant’s Share of the increases in Operating Costs and Taxes for the entire year and then prorating such amount for the number of days during such year included in the Lease Term.
Landlord’s Statement. At any time, and from time to time in connection with any proposed sale or financing by Tenant or in connection with the preparation of
Landlord’s Statement. Lessor shall, within ten (10) days after receipt of written request from Lessee, execute a statement certifying (i) that, to Lessor's knowledge without any duty of inquiry or investigation, the Lease, as modified, if modified, is in full force and effect, and (ii) the date to which Base Rent has been paid in advance. EXHIBIT "A" THE PREMISES [ATTACHED] MAP
Landlord’s Statement. Landlord represents and warrants to Tenant, to survive the expiration or sooner termination of the Lease, all of the following: (i) Landlord is duly authorized and empowered to enter into and perform the Lease, and no other party has a prior right to the Premises or any part thereof, (ii) Landlord is not aware of any unrecorded agreements which may be binding upon Tenant and which may affect the Premises, except those which shall be given by Landlord to Tenant within ten (10) days after the Effective Date, (iii) INTENTIONALLY OMITTED, (iv) it will not amend or enter into (or otherwise allow) any new covenants, restrictions, easements, agreements or encumbrances so as to prohibit Tenant's use or so as to materially adversely affect Tenant's rights or materially increase Tenant's obligations under the Lease; (v) INTENTIONALLY OMITTED, (vi) to the best of Landlord's knowledge, there is no pending or threatened condemnation or similar proceeding affecting the Premises or any portion thereof, (vii) except for a construction lien claim (app. $3,000) in favor of Waste Management (which if still unresolved at the end of the Inspection Period, Landlord shall then bond off), there are no legal actions, suits, or other legal or administrative proceedings pending or threatened, which affect the Premises, and Landlord is not aware of any facts which might result in any such action, suit or other proceedings, (viii) no portion of the Premises is affected by any special assessment, pending or certified, whether or not constituting a lien thereon, (ix) the Property Data delivered or to be delivered to Tenant, constitutes and shall constitute all of the information and data known or available to Landlord relating to the Premises and all aspects thereof, and (x) Landlord has delivered to Tenant a copy of that certain Dynatech Engineering Corp. report dated October 1, 1999, and if there are any other environmental reports in Landlord's possession, Landlord shall deliver them to Tenant within ten (10) days after the Effective Date. Landlord acknowledges that each of the representations contained in this paragraph separately constitutes a material inducement to Tenant in entering into the Lease, and any breach of any such representation shall entitle Tenant to cancel and terminate the Lease immediately upon notice of such breach to Landlord, and such right shall be cumulative with all other rights of Tenant.