Common use of Operating Cost Adjustment Clause in Contracts

Operating Cost Adjustment. (a) If in any calendar year the Operating Cost is greater than the Estimated Operating Cost, Tenant shall pay to Landlord as additional rent an amount equal to such excess. Any amount payable by Tenant to Landlord under this Section 6 shall be paid within thirty (30) days after written notice thereof by Landlord, such notice to be given by Landlord not later than March 31 of each calendar year. Landlord may, either prior to the beginning of or during any calendar year, compute a bona fide estimate of Operating Cost for such calendar year. Upon receipt of written notice thereof, Tenant shall pay to Landlord, in monthly installments simultaneously with payments of Base Rent under Section 4(a), one-twelfth of such new estimate of Operating Cost. An annual adjustment shall be made between the parties within thirty (30) days after Landlord's determination of Operating Cost. Any amounts of excess estimated Operating Cost which Landlord is required to return may be offset by accrued amounts payable by Tenant to Landlord. If the term of this Lease ends before the end of a calendar year, any amount payable by Tenant or Landlord in respect of that year under this Section 6 shall be adjusted proportionately on a daily basis utilizing the previous year's determination of Operating Costs and the obligation to pay such amount shall survive the expiration or earlier termination of this Lease.

Operating Cost Adjustment. (a) If in any calendar year the Operating Cost is greater than the Estimated Base Operating Cost, Tenant shall pay to Landlord as additional rent an amount equal to such excessexcess multiplied by the Premises Rentable Area. Any amount payable by Tenant to Landlord under this Section 6 shall be paid within thirty (30) days after written notice thereof by Landlord, such notice to be given by Landlord not later than March 31 of each calendar year. Landlord may, either prior to the beginning of or during any calendar year, compute a bona fide estimate of Operating Cost for such calendar year. Upon receipt of written notice thereof, Tenant shall pay to Landlord, in monthly installments simultaneously with payments of Base Rent under Section 4(a), one-twelfth of the product of such new estimate of estimated Operating CostCost and the Premises Rentable Area. An annual adjustment shall be made between the parties within thirty (30) days after Landlord's ’s determination of Operating Cost. Any amounts of excess estimated Operating Cost which Landlord is required to return may be offset by accrued amounts payable by Tenant to Landlord. If the term Term of this Lease ends before the end of a calendar year, any amount payable by Tenant or Landlord in respect of that year under this Section 6 shall be adjusted proportionately on a daily basis utilizing the previous year's ’s determination of Operating Costs and the obligation to pay such amount shall survive the expiration or earlier termination of this Lease. In no event shall Landlord be required to make any payment or refund to Tenant if in any calendar year the Operating Cost is less than the Base Operating Cost.

Operating Cost Adjustment. (a) If in any calendar year during the Lease Term the Operating Cost is greater than the Estimated Base Operating Cost, Tenant shall pay to Landlord as additional rent an amount equal to such excessexcess multiplied by the Building Area. Any amount payable by Tenant to Landlord under this Section 6 shall be paid within thirty (30) days after written notice thereof by Landlord, such notice to be given by Landlord not later than March 31 of each calendar year. Landlord may, either prior to the beginning of or during any calendar year, compute a bona fide new estimate of Operating Cost for such calendar year. Upon receipt of written notice thereof, Tenant shall pay to Landlord, in monthly installments simultaneously with payments of Base Rent under Section 4(a), one-twelfth of such new estimate of estimated Operating CostCost times the Building Area. An annual adjustment shall be made between the parties within thirty (30) days after Landlord's ’s determination of Operating Cost. Any amounts of excess estimated Operating Cost which Landlord is required to return may be offset by accrued amounts payable by Tenant to Landlord. If the term Term of this Lease ends before the end of a calendar year, any amount payable by Tenant or Landlord in respect of that year under this Section 6 shall be adjusted proportionately on a daily basis utilizing the previous termination year's ’s determination of Operating Costs and the obligation to pay such amount shall survive the expiration or earlier termination of this Lease.