Common use of Monthly Payment of Estimated Amount Clause in Contracts

Monthly Payment of Estimated Amount. For each Calendar Year, Tenant shall pay, at the time of payment of each monthly installment of Base Rent, an amount equal to one-twelfth (1/12) of Landlord’s reasonable estimate of the sum of the Operating Expense Payment to be due for the then current Calendar Year, if any, which statement shall be in reasonable detail by major general categories of expenses. Said monthly payments shall be an estimate of the Operating Expense Payment for the then current Calendar Year and shall be subject to adjustment based upon the final calculation of the Operating Expense Payment as provided for in this Section 4.2. Tenant shall begin paying the latest estimate thirty (30) days after receipt thereof. (i) Within ninety (90) days after the end of each Calendar Year, Landlord shall furnish to Tenant a written statement setting forth the Operating Expenses for the most recently completed Calendar Year and Tenant’s Operating Expense Payment, which statement shall be in reasonable detail by major general categories of expenses. Landlord’s failure to render a statement with respect to increases in Operating Expenses for any Calendar Year shall not prejudice Landlord’s right to thereafter render a statement with respect thereto or with respect to any other Calendar Year. Notwithstanding the immediately preceding sentence, Tenant shall not be responsible for Tenant’s Share of any Operating Expenses attributable to any Calendar Year which are first billed to Tenant more than two (2) calendar years after the earlier of the expiration of the applicable Calendar Year or the Expiration Date, provided that in any event Tenant shall be responsible for Tenant’s Pro-Rata Share of Operating Expenses levied by any governmental authority or by any public utility companies at any time following the Expiration Date which are attributable to any Calendar Year (provided that Landlord delivers Tenant a xxxx (a “Supplemental Statement”) for such amounts within two (2) years following Landlord’s receipt of the xxxx therefor). (ii) After the end of each Calendar Year, including after this Lease has terminated or expired, Tenant shall make or receive for any Calendar Year, a payment or a credit equal to any excess or deficiency between the actual Operating Expense Payment, if any, owed by Tenant for the most recent Calendar Year and the amounts paid by Tenant as an estimate of the Operating Expense Payment. Tenant shall pay such Operating Expense Payment or receive such credit against future payments within thirty (30) days following receipt of notice thereof and receipt of the statement described herein. (iii) Tenant’s obligation with respect to the Operating Expense Payment shall survive the expiration or early termination of the Lease, and all such payments shall be prorated to reflect the actual term of this Lease. (iv) Landlord agrees that upon written request of Tenant made within twelve (12) months of receiving the annual statement of Tenant’s Pro-Rata Share, Landlord shall make the books and records for said prior year available for audit at its offices in the greater Phoenix area or the greater San Diego area during normal business hours. Except as set forth below, any audit shall be conducted by a regional or national accounting firm, a reputable firm which regularly provides such services or a professional brokerage firm that specializes in such audits and such services shall not, in any manner, be provided on a contingency basis. Landlord agrees to pay one-half of the reasonable costs and expenses of an audit on an annual basis. If the audit confirms that the actual Operating Expenses charged to Tenant during the prior Calendar Year have been overstated by Landlord by more than five percent (5%), Landlord shall refund the entire excess within thirty (30) days. If the audit confirms that the Operating Expenses charged to Tenant during the prior Calendar Year have been undercharged by Landlord by more than five percent (5%), Tenant shall pay the entire amount understated within thirty (30) days. The annual statement of Tenant’s Pro-Rata Share shall be deemed binding and conclusive unless Tenant timely provides an audit notice to Landlord, thereafter audits the books and records within ninety (90) days of the notice date and the date Landlord makes all of its books and records reasonably related to such statement available to Tenant and said audits confirms an over or understated amount. If Landlord disagrees with the results of Tenant’s audit and the parties cannot otherwise agree, then Landlord and Tenant’s auditor shall together select a neutral auditor of similar qualifications to conduct a review of such books and records (if such neutral auditor’s review reveals that Operating Expenses were overstated by Landlord by more than five percent (5%), Landlord shall bear all fees of such neutral auditor and if such neutral auditor’s review reveals less than a 5% over statement, Tenant shall bear all such costs), and the determination of Operating Expenses reached by such neutral auditor shall be final and conclusive.

Monthly Payment of Estimated Amount. For each Calendar Year, Tenant shall pay, at the time of payment of each monthly installment of Base Rent, an amount equal to one-one- twelfth (1/12) of Landlord’s reasonable estimate of the sum of the Operating Expense Payment to be due for the then current Calendar Year, if any, which statement shall be in reasonable detail by major general categories of expenses. Said monthly payments shall be an estimate of the Operating Expense Payment for the then current Calendar Year and shall be subject to adjustment based upon the final calculation of the Operating Expense Payment as provided for in this Section 4.2. Tenant shall begin paying the latest estimate thirty (30) days after receipt thereof4.02. (i) Within ninety (90) days after the end of each Calendar Year, Landlord shall furnish to Tenant a written statement setting forth the Operating Expenses for the most recently completed Calendar Year and Tenant’s Operating Expense Payment, which statement shall be in reasonable detail by major general categories of expenses. Landlord’s failure to render a statement with respect to increases in Operating Expenses for any Calendar Year shall not prejudice Landlord’s right to thereafter render a statement with respect thereto or with respect to any other Calendar Year provided said statement is rendered within one year after the end of the Calendar Year. Notwithstanding In the immediately preceding sentence, Tenant shall not be responsible for Tenant’s Share of any Operating Expenses attributable event Landlord fails to any Calendar Year which are first billed to Tenant more than two (2) calendar years render a statement within one year after the earlier end of the expiration of the applicable Calendar Year or the Expiration DateYear, provided that in any event Tenant Landlord shall be responsible deemed to have waived its right to collect any unpaid sums due for Tenant’s Pro-Rata Share of Operating Expenses levied by any governmental authority or by any public utility companies at any time following the Expiration Date which are attributable to any said Calendar Year (provided that Landlord delivers Tenant a xxxx (a “Supplemental Statement”) for such amounts within two (2) years following Landlord’s receipt of the xxxx therefor)Year. (ii) After the end of each Calendar Year, including after this Lease has terminated or expired, Tenant shall make or receive for any Calendar Year, a payment or a credit equal to any excess or deficiency between the actual Operating Expense Payment, if any, owed by Tenant for the most recent Calendar Year and the amounts paid by Tenant as an estimate of the Operating Expense Payment. Tenant or Landlord shall pay such Operating Expense Payment or receive such credit against future payments (provided Tenant has not purchased the Project) within thirty fifteen (3015) days following receipt of notice thereof and receipt of the statement described herein. In the event all or any portion of the Operating Expense Payment remains due by Landlord or Tenant following the expiration or termination of this Lease, the party responsible for making said payment shall pay the other party within fifteen (15) days following receipt of notice thereof and receipt of the statement described herein. (iii) Tenant’s obligation with respect to the Operating Expense Payment shall survive the expiration or early termination of the Lease, and all such payments shall be prorated to reflect the actual term of this Lease. (iv) Landlord agrees that upon written request of Tenant made within twelve thirty (1230) months days of receiving the annual statement of Tenant’s Pro-Pro Rata Share, Landlord shall make the books and records for said prior year available for audit at its offices in the greater Phoenix area or the greater San Diego area during normal business hours. Except as set forth below, any audit shall be conducted by a regional or national accounting firm, a reputable firm which regularly provides such services or a professional brokerage firm that specializes in such audits and such services shall not, in any manner, be provided on a contingency basis. Landlord agrees to pay one-half of the reasonable costs and expenses of an audit on an annual fee basis. If the audit confirms that the actual Operating Expenses charged to Tenant during the prior Calendar Year have been overstated by Landlord by more than five percent (5%)Landlord, Landlord shall immediately refund the entire excess within thirty (30) daysexcess. If the audit confirms that the Operating Expenses charged to Tenant during the prior Calendar Year have been undercharged by Landlord by more than five percent (5%)Landlord, Tenant shall immediately pay the entire amount understated within thirty (30) daysunderstated. The annual statement of Tenant’s Pro-Pro Rata Share shall be deemed binding and conclusive unless Tenant timely provides an audit notice to Landlord, thereafter audits the books and records within ninety one hundred and eighty (90180) days of the notice date and the date Landlord makes all of its books and records reasonably related to such statement available to Tenant and said audits confirms an over or understated amount. If Landlord disagrees with the results of Tenant’s audit and the parties cannot otherwise agree, then Landlord and Tenant’s auditor shall together select a neutral auditor of similar qualifications to conduct a review of such books and records (if the fees of such neutral auditor to be shared equally by Landlord and Tenant, unless such neutral auditor’s review reveals that Operating Expenses were overstated by Landlord by more than five percent (5%), in which case Landlord shall bear all fees of such neutral auditor costs and if such neutral auditor’s review reveals less than a 5% over statement, Tenant shall bear all such costs), and the determination of Operating Expenses reached by such neutral auditor shall be final and conclusive.

Monthly Payment of Estimated Amount. For each Calendar Year, Tenant shall pay, at the time of payment of each monthly installment of Base Rent, an amount equal to one-twelfth (1/12) of Landlord’s reasonable estimate of the sum of the Operating Common Area Expense Payment to be due for the then current Calendar Year, if any, which statement shall be in reasonable detail by major general categories of expenses. Said monthly payments shall be an estimate of the Operating Common Area Expense Payment for the then current Calendar Year and shall be subject to adjustment based upon the final calculation of the Operating Common Area Expense Payment as provided for in this Section 4.2. Tenant shall begin paying the latest estimate thirty (30) days after receipt thereof4.02. (i) Within ninety (90) days after the end of each Calendar Year, Landlord shall furnish to Tenant a written statement setting forth the Operating Expenses for the most recently completed Calendar Year and Tenant’s Operating Common Area Expense Payment, which statement shall be in reasonable detail by major general categories of expenses. Landlord’s failure to render a statement with respect to increases in Operating Expenses for any Calendar Year shall not prejudice Landlord’s right to thereafter render a statement with respect thereto or with respect to any other Calendar Year. Notwithstanding the immediately preceding sentence, Tenant shall not be responsible for Tenant’s Share of any Operating Expenses attributable to any Calendar Year which are first billed to Tenant more than two (2) calendar years after the earlier of the expiration of the applicable Calendar Year or the Expiration Date, provided that in any event Tenant shall be responsible for Tenant’s Pro-Rata Share of Operating Expenses levied by any governmental authority or by any public utility companies at any time following the Expiration Date which are attributable to any Calendar Year (provided that Landlord delivers Tenant a xxxx (a “Supplemental Statement”) for such amounts within two (2) years following Landlord’s receipt of the xxxx therefor). (ii) After the end of each Calendar Year, including after this Lease has terminated or expired, Tenant shall make or receive for any Calendar Year, a payment or a credit equal to any excess or deficiency between the actual Operating Common Area Expense Payment, if any, owed by Tenant for the most recent Calendar Year and the amounts paid by Tenant as an estimate of the Operating Common Area Expense Payment. Tenant shall pay such Operating Common Area Expense Payment or receive such credit against future payments within thirty fifteen (3015) days following receipt of notice thereof and receipt of the statement described herein. (iii) Tenant’s obligation with respect to the Operating Common Area Expense Payment shall survive the expiration or early termination of the Lease, and all such payments shall be prorated to reflect the actual term of this Lease. (iv) Landlord agrees that upon written request of Tenant made within twelve thirty (1230) months days of receiving the annual statement of Tenant’s Pro-Pro Rata Share, Landlord shall make the books and records for said prior year available for audit at its offices in the greater Phoenix area or the greater San Diego area during normal business hours. Except as set forth below, any Any audit shall be conducted by a regional or national accounting firm, a reputable firm which regularly provides such services or a professional brokerage firm that specializes in such audits and such services shall not, in any manner, be provided on a contingency basis. Landlord agrees to pay one-half of the reasonable costs and expenses of an audit on an annual basis. If the audit confirms that the actual Operating Expenses charged to Tenant during the prior Calendar Year have been overstated by Landlord by more than five percent (5%), Landlord shall immediately refund the entire excess within thirty (30) daysexcess. If the audit confirms that the Operating Expenses charged to Tenant during the prior Calendar Year have been undercharged by Landlord by more than five percent (5%), Tenant shall immediately pay the entire amount understated within thirty (30) daysunderstated. The annual statement of Tenant’s Pro-Pro Rata Share shall be deemed binding and conclusive unless Tenant timely provides an audit notice to Landlord, thereafter audits the books and records within ninety (90) days of the notice date and the date Landlord makes all of its books and records reasonably related to such statement available to Tenant and said audits confirms an over or understated amount. If Landlord disagrees with the results of Tenant’s audit and the parties cannot otherwise agree, then Landlord and Tenant’s auditor shall together select a neutral auditor of similar qualifications to conduct a review of such books and records (if such neutral auditor’s review reveals that Operating Expenses were overstated by Landlord by more than five percent (5%), Landlord shall bear all fees of such neutral auditor and if such neutral auditor’s review reveals less than a 5% over statement, Tenant shall bear all such costs), and the determination of Operating Expenses reached by such neutral auditor shall be final and conclusive.