Common use of Operating Expense Payment Clause in Contracts

Operating Expense Payment. Tenant will pay its Proportionate Share of all Operating Expenses incurred by Landlord during the Lease Term in connection with the operation, management, maintenance and repair of the Land and the Building. Illustrative examples of those expenses which are included within the definition of "Operating Expenses" are set forth in Exhibit B. Tenant's Proportionate Share of such Operating Expenses will be paid by Tenant in advance based upon Landlord's estimate of the actual Operating Expenses which will be incurred during each calendar year during the Lease Term. The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon Landlord's estimate of its Operating Expenses for such calendar year. Landlord will use its best efforts to notify Tenant by December 1 of each year during the Lease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each calendar year, Landlord will deliver to Tenant a written statement showing its actual Operating Expenses for such calendar year and Tenant's actual Proportionate Share thereof. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year exceeds Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Landlord will apply the excess toward the next succeeding monthly Estimated Operating Expense Payment(s) due from Tenant. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year is less than Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Tenant will pay the deficiency to Landlord within ten business days after Tenant's receipt of Landlord's written demand for the payment thereof.

Operating Expense Payment. Tenant will pay its Proportionate Share of all Operating Expenses incurred by Landlord during the Lease Term in connection with the operation, management, maintenance and repair of the Land and the Building. Illustrative examples of those expenses which are included within the definition of "Operating Expenses" are set forth in Exhibit B. Tenant's Proportionate Share of such Operating Expenses will be paid by Tenant monthly in advance based upon Landlord's reasonable estimate of the actual Operating Expenses which will be incurred during each calendar year during the Lease Term. The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon Landlord's reasonable estimate of its Operating Expenses for such calendar year. Landlord will use its best efforts endeavor to notify Tenant by December 1 of each year during the Lease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each calendar year (but in no event later than April 30 of each such calendar year), Landlord will deliver to Tenant a written statement showing its actual Operating Expenses for such calendar year and Tenant's actual Proportionate Share thereof. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year exceeds Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Landlord will apply the excess toward the next succeeding monthly Estimated Operating Expense Payment(s) due from Tenant. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year is less than Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Tenant will pay the deficiency to Landlord within ten business 20 days after Tenant's receipt of Landlord's written demand for the payment thereof.

Operating Expense Payment. Tenant Sublessee will pay its Proportionate Share of all Operating Expenses incurred by Landlord Sublessor during the Lease Sublease Term in connection with the operation, management, maintenance and repair of the Land and the Building. Illustrative examples of those expenses which are included within within, and excluded from, the definition of "Operating Expenses" are as set forth in Exhibit the Master Lease are attached hereto as EXHIBIT B. TenantSublessee's Proportionate Share is fifty percent (50%). Sublessee will pay its Proportionate Share of such Operating Expenses will be paid by Tenant Expenses, in advance advance, on the first day of each month, based upon LandlordMaster Lessor's and Sublessor's estimate of the actual Operating Expenses which will be incurred during each calendar year during the Lease Sublease Term. The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary$ 6,628.33 per month. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon LandlordMaster Lessor's and Sublessor's estimate of its Operating Expenses for such calendar year. Landlord Sublessor will use its best reasonable efforts to notify Tenant Sublessee by December 1 of each year during the Lease Sublease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each calendar yearyear upon receipt from Master Lessor, Landlord Sublessor will deliver to Tenant Sublessee a written statement showing its the actual Operating Expenses for such calendar year and TenantSublessee's actual Proportionate Share thereof. If the sum of the Estimated Operating Expense Payments paid by Tenant Sublessee during such calendar year exceeds TenantSublessee's Proportionate Share of the actual Operating Expenses incurred during such year, then Landlord Sublessor will apply the excess toward the next succeeding monthly Estimated Operating Expense Payment(s) due from TenantSublessee (or, if the Sublease Term has expired or terminated otherwise than due to default of Sublessee, Sublessor shall immediately refund such amount to Sublessee, which obligation shall survive the expiration or earlier termination of this Sublease). If the sum of the Estimated Operating Expense Payments paid by Tenant Sublessee during such calendar year is less than TenantSublessee's Proportionate Share of the actual Operating Expenses incurred during such year, then Tenant Sublessee will pay the deficiency to Landlord Sublessor within ten business days after TenantSublessee's receipt of LandlordSublessor's written demand for the payment thereof.

Operating Expense Payment. Tenant will Lessee shall also pay its Proportionate Share as additional rental Lessee's pro rata share of all the amount, if any, by which (i) the operating expenses (defined in Section 2.03 hereof) exceed the actual per square foot building operating expenses for 1998 as a base year based on the rentable area of the building (the "Operating Expense Obligation"). Lessor shall invoice Lessee monthly for monthly installments of Lessee's Operating Expenses incurred by Landlord Obligation during the first calendar year of this Lease Term in connection with (which amount shall be adjusted at the operation, management, maintenance and repair beginning of the Land and the Building. Illustrative examples of those expenses which are included within the definition of "Operating Expenses" are set forth in Exhibit B. Tenant's Proportionate Share of such Operating Expenses will be paid by Tenant in advance each subsequent calendar year based upon Landlord's estimate anticipated operating costs for such year). Lessor shall, within six months following the close of the actual Operating Expenses which will be incurred during each a calendar year during the Lease Term. The Estimated Operating Expense Payment for which additional rental is due under this section, invoice Lessee for the first such calendar year is set forth in additional rent. If this Lease shall terminate on a day other than the Lease Summary. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon Landlord's estimate last day of its Operating Expenses for such calendar year. Landlord will use its best efforts to notify Tenant by December 1 of each year during the Lease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each a calendar year, Landlord will deliver the amount of any additional rental payable by Lessee applicable to Tenant a written statement showing its actual Operating Expenses for the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of such calendar year and Tenant's actual Proportionate Share thereofto including such termination date bears to 365. If the invoice delivered within six months following the close of a calendar year in accordance with this section shows an amount owing by Lessee that is less than the sum of the Estimated Operating Expense Payments paid monthly payments made by Tenant during such Lessee in the previous calendar year exceeds Tenant's Proportionate Share year, the invoice shall be accompanied by a refund of the actual excess from Lessor to Lessee. During the year in which this Lease terminates, Lessor shall have the option to invoice Lessee for Lessee's Operating Expenses incurred during such Obligation based upon Lessee's previous year's Operating Expenses Obligation; Lessor shall invoice Lessee under this option within thirty days prior to the termination of this Lease or at any time thereafter. Lessee shall have the right, then Landlord will apply at its own expense and within reasonable time, to audit Lessor's books relevant to the excess toward additional rent, and Lessee agrees to pay the next succeeding monthly Estimated Operating Expense Payment(s) due from Tenantadditional rent within ten days following the receipt of the invoice. The term "Lessee's pro rata share" is defined on Exhibit "A" attached hereto. If after audit, Lessee determines the sum obligation was overstated, Lessee shall be entitled to a refund of the Estimated Operating Expense Payments paid by Tenant during such calendar year is less than Tenant's Proportionate Share overstatement. If overstatement exceeds three percent (3%) of the actual Operating Expenses incurred during such yearamount due, then Tenant will Lessor shall pay the deficiency to Landlord within ten business days after Tenant's receipt cost of Landlord's written demand for the payment thereofaudit.

Operating Expense Payment. Tenant will pay its Proportionate Share of all Operating Expenses incurred by Landlord (a) Commencing on the Commencement Date and continuing for each Operation Year (or portion thereof) occurring during the Lease Term in connection with the operationTerm, management, maintenance and repair of the Land and the Building. Illustrative examples of those expenses which are included within the definition of Tenant shall pay to Landlord as Additional Rent for such Operation Year a sum ("Operating Expenses" are set forth in Exhibit B. Tenant's Proportionate Share of such Operating Expenses will be paid by Tenant in advance based upon Landlord's estimate of the actual Operating Expenses which will be incurred during each calendar year during the Lease Term. The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon Landlord's estimate of its Operating Expenses for such calendar year. Landlord will use its best efforts Payment") equal to notify Tenant by December 1 of each year during the Lease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each calendar year, Landlord will deliver to Tenant a written statement showing its actual Operating Expenses for such calendar year and Tenant's actual Proportionate Share thereof. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year exceeds Tenant's Proportionate Share of the actual Operating Expenses. (b) Commencing on the Commencement Date, and continuing for each Operation Year (or portion thereof) occurring during the Term, Tenant shall pay to Landlord on account of Tenant's Operating Expense Payment for the then current Operation Year an estimated amount of Tenant's Operating Expense Payment for the current Operation Year ("Tenant's Projected Share") payable in monthly installments. Tenant's Projected Share for the period from the Commencement Date to December 31, 2003 shall be based on Landlord's reasonable estimate of Tenant's projected 2003 Operating Expenses, which Landlord has furnished to Tenant. Tenant's Projected Share for 2004 and each following Operation Year during the Term shall be an amount equal to 105% of Tenant's Operating Expense Payment, if any, for the prior Operation Year. Tenant's obligation to pay Tenant's Projected Share shall accrue as of the first day of the relevant Operation Year and Tenant's Projected Share shall be payable in twelve (12) equal monthly installments, in advance, on the first day of each month during such Operation Year; provided, however, that (i) until the first day of the month following the month in which Landlord's Statement regarding Tenant's Operating Expense Payment for the preceding Operation Year is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to one-twelfth (1/12) of Tenant's Projected Share of Operating Expenses incurred during for the preceding Operation Year and (ii) within fifteen (15) days after such yearLandlord's Statement is furnished to Tenant, then Tenant shall pay any deficiency in Tenant's Projected Share of Operating Expenses or, if there shall have been an overpayment, Landlord will apply shall credit the excess toward amount thereof against the next succeeding monthly Estimated Operating Expense Payment(s) due from Tenant. If the sum months' installments of the Estimated Operating Expense Payments paid by Tenant during such calendar year is less than Tenant's Proportionate Projected Share of Operating Expenses, or refund such amount within thirty (30) days if the actual Operating Expenses incurred during such year, then Tenant will pay the deficiency to Landlord within ten business days after Tenant's receipt of Landlord's written demand for the payment thereofTerm shall have expired.