Common use of Operating Expense Pass-Throughs Clause in Contracts

Operating Expense Pass-Throughs. Seller, as landlord under the Leases, is currently collecting from Tenants under the Leases additional rent over an expense stop to cover taxes, insurance, utilities, common area maintenance and other operating costs and expenses (collectively, “Operating Expense Pass-Throughs”) in connection with the ownership, operation, maintenance and management of the Subject Property. Seller and Purchaser shall each receive a debit or credit, as the case may be, for the difference between the Tenants’ collected account balance for Operating Expense Pass-Throughs and the amount of Operating Expense Pass-Throughs due to or from Tenants as of the Closing Date. Operating Expense Pass-Throughs for Seller’s period of ownership shall be reasonably estimated by the parties if final bills are not available. If Seller was overpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller shall remit to Purchaser such estimated overpayment at Closing. If Seller was underpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller shall receive a credit at Closing for the amount of such estimated underpayment. Any item in this Section 9(g) that is paid directly by any Tenant pursuant to its Leases shall not be prorated between the parties, and Purchaser shall look to said Tenant to pay such items. Seller and Purchaser agree to cooperate and use their good faith and diligent efforts to do a true-up and make any necessary adjustments to the proration of the Operating Expense Pass-Throughs within ninety (90) days after the calendar year end following Closing.

Operating Expense Pass-Throughs. Seller, as landlord under the Leases, is currently collecting from Tenants under the Leases additional rent over an expense stop to cover taxes, insurance, utilities, common area maintenance and other operating costs and expenses (collectively, “"Operating Expense Pass-Throughs”") in connection with the ownership, operation, maintenance and management of the Subject Property. Seller and Purchaser shall each receive a debit or credit, as the case may be, for the difference between the aggregate Tenants’ collected ' current account balance balances for Operating Expense Pass-Throughs and the amount of Operating Expense Pass-Throughs due reimbursable to or from Tenants as of the Closing DatePurchaser. Operating Expense Pass-Throughs for Seller’s 's period of ownership shall be reasonably estimated by the parties if final bills are not available. If Seller was overpaid by any Tenant for the period with respect to any such charges prior to ClosingClosing and Purchaser reimburses or credits Tenants therefor, Seller shall remit to Purchaser such estimated overpayment at Closing. If Seller was underpaid by any Tenant for the period with respect to any such charges prior to ClosingPurchaser, Seller shall receive a credit at Closing for the amount within fifteen (15) days after notice and submission of reasonably satisfactory evidence of such estimated underpaymentoverpayment and reimbursement, its allocable share of the overpaid amount. Any item in this Section 9(g) 7.1.2 that is paid directly by any Tenant pursuant to its Leases Lease shall not be prorated between the parties, and Purchaser shall look to said the Tenant to pay such items. Seller and Purchaser agree to cooperate and use their good faith and diligent efforts to do a true-up and make any necessary adjustments to the proration of the Operating Expense Pass-Throughs within ninety (90) days after the calendar year end following Closing.

Operating Expense Pass-Throughs. SellerWith respect to each Project, the Subsidiary who owns such Project, as landlord under the LeasesLeases for such Project, is currently collecting from Tenants under the such Leases additional rent over an and expense stop stops (if any) to cover taxes, insurance, utilities, common area maintenance and other operating costs and expenses (collectively, “Operating Expense Pass-Throughs”) in connection with the ownership, operation, maintenance and management of the Subject Property. Seller Partnership and Purchaser shall each receive a debit or credit, as the case may be, for the difference between the aggregate Tenants’ collected account balance balances for Operating Expense Pass-Throughs and the amount of Operating Expense Pass-Throughs due to or from Tenants as of the Closing Date. Operating Expense Pass-Throughs for Seller’s period of ownership shall be reasonably estimated by If Partnership or the parties if final bills are not available. If Seller relevant Subsidiary was overpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller Partnership shall remit to Purchaser such estimated overpayment at Closing. If Seller Partnership or the relevant Subsidiary was underpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller Purchaser shall receive a credit at Closing remit such amounts to Partnership promptly following Purchaser’s receipt of any such amounts after the Closing. Purchaser agrees to use reasonable efforts to complete the calendar year 2007 tenant reconciliations for each Project and submit such reconciliations to Tenants within ninety (90) days after the 2007 calendar year end, including xxxxxxxx for any estimated underpayments by Tenants for the amount Subsidiaries’ period of ownership, as provided above. In the event that any Tenant has not remitted such estimated underpayment (and Purchaser has not forwarded such payment to Partnership) within thirty (30) days after Purchaser submits the calendar year 2007 reconciliation to such Tenant, then Partnership and/or the relevant Subsidiary shall have the right to xxx the delinquent Tenant for such underpayment, so long as Partnership does not cause a termination of any Lease or disturb any Tenant’s right to occupy its respective premises. Any item in this Section 9(g11(g) that is paid directly by any Tenant pursuant to its Leases Lease shall not be prorated between the parties, and Purchaser shall look to said the Tenant to pay such items. Seller Partnership and Purchaser agree to cooperate and use their good faith and diligent efforts to do a true-up and make any necessary adjustments to the proration of the Operating Expense Pass-Throughs within ninety (90) days a reasonable time after the calendar year end following Closing.

Operating Expense Pass-Throughs. Seller, as landlord under the LeasesLease, is currently collecting from Tenants Tenant under the Leases Lease additional rent over and an expense stop to cover taxes, insurance, utilities, common area maintenance and other operating costs and expenses (collectively, “Operating Expense Pass-Throughs”) in connection with the ownership, operation, maintenance and management of the Subject Property. Seller and Purchaser shall each receive a debit or credit, as the case may be, for the difference between the Tenants’ Tenant’s collected account balance for Operating Expense Pass-Throughs and the amount of Operating Expense Pass-Throughs due to or from Tenants Tenant as of the Closing Date. Operating Expense Pass-Throughs for Seller’s period of ownership shall be reasonably estimated by the parties if final bills are not available. If Seller was overpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller shall remit to Purchaser such estimated overpayment at Closing. If Seller was underpaid by any Tenant for the period with respect to any such charges prior to Closing, Seller shall receive a credit at Closing for the amount of such estimated underpayment. Any item in this Section 9(g) that is paid directly by any Tenant pursuant to its Leases Lease shall not be prorated between the parties, and Purchaser shall look to said the Tenant to pay such items. Seller and Purchaser agree to cooperate and use their good faith and diligent efforts to do a true-up and make any necessary adjustments to the proration of the Operating Expense Pass-Throughs within ninety (90) days after the calendar year end following Closing.