Common use of OPERATING EXPENSE ADJUSTMENTS Clause in Contracts

OPERATING EXPENSE ADJUSTMENTS. The parties each acknowledge that the Rent specified in Item 3 of the Lease does not provide for increases in operating expense, real estate taxes, and utility costs which may hereafter affect the Premises or the Building; accordingly, during the term of this Lease, and any renewals thereof, Tenant shall pay to Landlord, in the form of Additional Rent (plus any applicable tax), its Proportionate Share of increased expenses over the base amount as defined in Item 1, Section J. To implement and effect the foregoing obligation of Tenant to pay its Proportionate Share of the expenses, taxes and costs referenced in this Item 5, the parties agree that Tenant shall pay Landlord on or before the first day of each calendar month one-twelfth (1/12) of the amount of Tenant’s estimated annualized liability for such expenses, taxes and costs for the coming calendar year. Any amount paid by Tenant which exceeds the correct amount due shall be credited the next succeeding payment due under this Item 5. If Tenant has paid less than the correct amount due, Tenant shall pay the balance within ten (10) days of receipt of notice from Landlord. If the term of this Lease shall begin or end other than on the first day or last day of a calendar year, the foregoing expenses, taxes and costs shall be billed and adjusted on the basis of such fraction of a calendar year.

OPERATING EXPENSE ADJUSTMENTS. The parties each acknowledge that the ----------------------------- Rent specified in Item 3 of the Lease does not provide for increases in operating expenseexpenses, real estate taxes, and utility costs casts which may hereafter affect the Premises or the Building; accordingly, during the term of this Lease, and any renewals thereof, Tenant shall pay to Landlord, in the form of Additional Rent (plus any applicable tax), its Proportionate Share of increased expenses over the base amount as defined in Item 1, Section J. (j). To implement and effect the foregoing obligation of Tenant to pay its Proportionate Share of the expenses, taxes and costs referenced in this Item 5, the parties agree that Tenant shall pay Landlord on or before the first day of each calendar month one-twelfth (1/12) of the amount of Tenant’s 's estimated annualized liability for such expenses, taxes and costs for the coming calendar year. Any amount paid by Tenant which exceeds the correct amount due shall be credited to the next succeeding payment due under this Item 5. If Tenant has paid less than the correct amount due, Tenant shall pay the balance within ten (10) days of receipt of notice from Landlord. If the term of this Lease shall begin or end other than on the first day or last day of a calendar year, the foregoing expenses, taxes and costs shall be billed and adjusted on the basis of such fraction of a calendar year. Tenant's obligation to pay the adjustments described in this Item 5 shall survive the expiration of this Lease. Tenant shall have thirty (30) days following the submission to it by Landlord of each applicable adjustment calculation to object to each such calculation. Should Tenant fail duly and timely to object to each such calculation, which objection to be effective, must be in writing and must state the particulars of such objection, then, the parties understand and agree, Landlord's calculation shall be conclusively deemed to be correct.

OPERATING EXPENSE ADJUSTMENTS. (a) The parties each acknowledge that the Rent specified in Item Section 3 of the this Lease does not provide for increases in operating expenseOperating Expenses, real estate taxesReal Estate Taxes, and utility costs Utility Costs which may hereafter affect the Premises or the Building; accordingly, during the term Term of this Lease, and any renewals thereof, Tenant shall pay to Landlord, in the form of Additional Rent (plus any applicable tax), its Proportionate Share of increased expenses over the base amount as defined in Item 1, Section J. To Operating Expense Base. (b) to implement and effect the foregoing obligation of Tenant to pay its Proportionate Share of the expenses, taxes and costs referenced in this Item Section 5, the parties agree that Tenant shall pay Landlord on or before the first day of each calendar month one-twelfth (1/12) of the amount of Tenant’s 's estimated annualized liability for such expenses, taxes and costs for the coming calendar year. Any amount paid by Tenant which exceeds the correct amount due shall be credited to the next succeeding payment due under this Item Section 5. If Tenant has paid less than the correct amount due, Tenant shall pay the balance within ten (10) days of receipt of notice from Landlord. If the term Term of this Lease shall begin or end other than on the first day or last day of a calendar year, the foregoing expenses, taxes and costs shall be billed and adjusted on the basis of such fraction of a calendar year.calendar

OPERATING EXPENSE ADJUSTMENTS. The parties each acknowledge that the Rent specified in Item 3 of the Lease does not provide for increases in operating expenseOperating Expenses, real estate taxesReal Estate Taxes, and utility costs Utility Costs which may hereafter affect the Premises or the Building; accordingly, during the term of this Lease, and any renewals thereof, Tenant shall pay to Landlord, in the form of Additional Rent (plus any applicable tax), its Proportionate Share of increased expenses over the base amount as defined in Item 1, Section J. Operating Expense Base. To implement and effect the foregoing obligation of Tenant to pay its Proportionate Share share of the expenses, taxes and costs referenced in this Item 5, the parties agree that Tenant shall pay Landlord on or before the first day of each calendar month one-one twelfth (1/12) of the amount of Tenant’s 's estimated annualized liability for such expenses, taxes and costs for the coming calendar year. Any amount paid by Tenant which exceeds the correct amount due shall be credited to the next rental obligation due or next succeeding payment due under this Item 5. If Tenant has paid less than the correct amount due, Tenant shall pay the balance within ten thirty (1030) days of receipt of notice from Landlord. If the term of this Lease shall begin or end other than on the first day or last day of a calendar year, the foregoing expenses, taxes and costs shall be billed and adjusted on the basis of such fraction of a calendar year. Tenant's obligation to pay the adjustments described in this Item 5 shall survive the expiration of this Lease. Tenant shall have sixty (60) days following the submission to it by Landlord of each applicable adjustment calculation to object to each such calculation. Should Tenant fail duly and timely to object to each such calculation, which objection, to be effective, must be in writing and must state the particulars of such objection, then, the parties understand and agree, Landlord's calculation shall be conclusively deemed to be correct.