Common use of Operating Expense Payments Clause in Contracts

Operating Expense Payments. (i) If the Expense Factor for any Computation Year exceeds the Base Expense Factor, Tenant shall pay to Landlord, as Additional Rent during each Computation Year, an amount (“Tenant’s Operating Payment”) equal to (A) Tenant’s Retail Space Area, multiplied by (B) the amount by which the Expense Factor for such Computation Year exceeds the Base Expense Factor. For each Computation Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s good faith estimate of Tenant’s Operating Payment for such Computation Year. Tenant shall pay to Landlord, on the first day of each month during such Computation Year, an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Computation Year. If Landlord does not furnish any such estimate for a Computation Year until after the commencement thereof, then (1) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this subsection (g) during the last month of the preceding Computation Year, (2) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Computation Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Computation Year in accordance with such estimate, and (X) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 Business Days after demand therefor or (Y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent installments of Rent due hereunder, and (3) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Computation Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate. (ii) Landlord shall furnish to Tenant a Landlord’s Statement of Operating Expenses for each Computation Year. If such Landlord’s Statement shows that the sums paid by Tenant under subsection (g) exceeded the actual amount of Tenant’s Operating Payment for such Computation Year, Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder. If Landlord’s Statement for such Computation Year shows that the sums so paid by Tenant were less than Tenant’s Operating Payment for such Computation Year, Tenant shall pay the amount of such deficiency within 10 Business Days after Tenant’s receipt of Landlord’s Statement.

Operating Expense Payments. (i) If the Expense Factor for any Computation Year exceeds the Base Expense Factor, Tenant shall pay to Landlord, as Additional Rent during each Computation Year, an amount (“Tenant’s Operating Payment”) equal to (A) Tenant’s Retail Space Area, multiplied by (B) the amount by which the Expense Factor for such Computation Year exceeds the Base Expense Factor. For each Computation Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s good faith estimate of TenantXxxxxx’s Operating Payment for such Computation Year. Tenant shall pay to Landlord, on the first day of each month during such Computation Year, an amount equal to one-twelfth of Landlord’s estimate of TenantXxxxxx’s Operating Payment for such Computation Year. If Landlord does not furnish any such estimate for a Computation Year until after the commencement thereof, then (1) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this subsection (g) during the last month of the preceding Computation Year, (2) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Computation Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Computation Year in accordance with such estimate, and (X) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 Business Days after demand therefor or (Y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent installments of Rent due hereunder, and (3) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Computation Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate. (ii) Landlord shall furnish to Tenant a Landlord’s Statement of Operating Expenses for each Computation Year. If such Landlord’s Statement shows that the sums paid by Tenant under subsection (g) exceeded the actual amount of Tenant’s Operating Payment for such Computation Year, Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder. If Landlord’s Statement for such Computation Year shows that the sums so paid by Tenant were less than Tenant’s Operating Payment for such Computation Year, Tenant shall pay the amount of such deficiency within 10 Business Days after TenantXxxxxx’s receipt of Landlord’s Statement.

Operating Expense Payments. (ia) If the Expense Factor for any Computation Year exceeds the Base Expense Factor, Tenant shall pay to Landlord, as Additional Rent during each Computation Year, an amount (“"Tenant’s 's Operating Payment”") equal to (Ai) Tenant’s Retail Space 's Area, multiplied by (Bii) the amount by which the Expense Factor for such Computation Year exceeds the Base Expense Factor. For each Computation Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s good faith estimate of Tenant’s Operating Payment for such Computation Year. Tenant shall pay to Landlord, on the first day of each month during such Computation Year, an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Computation Year. If Landlord does not furnish any such estimate for a Computation Year until after the commencement thereof, then . (1) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this subsection (ga) during the last month of the preceding Computation Year, (2B) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments payments previously made by Tenant on account of Tenant’s 's Operating Payment previously made for such Computation Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Computation Year in accordance with such estimate, and (X1) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 Business Days after demand therefor receipt of such notice, or (Y2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent installments of payments on account of Rent due hereunder, however, if said estimate is received by Tenant after the expiration or termination of the Term, then Landlord shall refund such overpayment to Tenant promptly thereafter, and (3C) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Computation Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant’s 's Operating Payment shown on such estimate. (iib) After the end of each Computation Year, Landlord shall furnish to Tenant a Landlord’s 's Statement of Tenant's Operating Expenses Payment for each such Computation Year. If such Landlord’s 's Statement shows that the sums paid by Tenant under subsection (g) exceeded the actual amount of Tenant’s 's Operating Payment for such Computation Year, then Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder, however, if said Landlord's Statement is received by Tenant after the expiration or earlier termination of the Term, then Landlord shall refund such excess to Tenant promptly thereafter. If Landlord’s 's Statement for such Computation Year shows that the sums so paid by Tenant were less than Tenant’s 's Operating Payment for such Computation Year, then Tenant shall pay the amount of such deficiency within 10 Business Days after Tenant’s 's receipt of Landlord’s 's Statement.

Operating Expense Payments. (ia) If the Expense Factor Operating Expenses for any Computation Year exceeds exceed the Base Expense FactorExpenses, Tenant shall pay to Landlord, as Additional Rent during each with respect to such Computation Year, an amount (“Tenant’s Operating Payment”) equal to (A) Tenant’s Retail Space Area, multiplied by (B) Proportionate Share of the amount by which the Expense Factor Operating Expenses for such Computation Year exceeds exceed the Base Expense FactorExpenses. For each Computation Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s good faith estimate of Tenant’s Operating Payment for such Computation Year. Tenant shall pay to Landlord, on the first day of each month during such Computation Year, an amount equal to one-twelfth (1/12th) of Landlord’s estimate of Tenant’s Operating Payment for such Computation Year. If Landlord does not furnish any such estimate for a Computation Year until after the commencement thereof, then (1A) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this subsection (g) Section 8.3 during the last month of the preceding Computation Year, (2B) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Computation Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Computation Year in accordance with such estimate, and (X1) if there shall be a deficiency, Tenant shall pay the amount thereof within 10 ten (10) Business Days after demand therefor or (Y2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent installments of Rent due hereunder, unless the Term has expired, in which event Landlord shall refund such overpayment to Tenant within thirty (30) days after the issuance of such notice, provided that if Tenant is in default under this Lease and there are amounts due and payable to Landlord hereunder, then Landlord shall refund such overpayment to Tenant to the extent in excess of any amounts claimed to be in default hereunder within such thirty (30) day period and once all defaults under this Lease are cured and there are no amounts due and payable to Landlord hereunder, Landlord shall refund any remaining portion of such overpayment to Tenant within thirty (30) days, and (3C) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Computation Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12th) of Tenant’s Operating Payment shown on such estimate. (iib) Landlord shall furnish to Tenant a Landlord’s Statement of Operating Expenses for each Computation Year with reasonable promptness after the expiration of such Computation Year. If such Landlord’s Statement shows that the sums paid by Tenant under subsection (gSection 8.3(a) exceeded the actual amount of Tenant’s Operating Payment for such Computation Year, Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder unless the Term has expired, in which event Landlord shall refund such overpayment to Tenant within thirty (30) days after the issuance of such Landlord’s Statement, provided that if Tenant is in default under this Lease and there are amounts due and payable to Landlord hereunder, then Landlord shall refund such overpayment to Tenant to the extent in excess of any amounts claimed to be in default hereunder within such thirty (30) day period and once all defaults under this Lease are cured and there are no amounts due and payable to Landlord hereunder, Landlord shall refund any remaining portion of such overpayment to Tenant within thirty (30) days. If Landlord’s Statement for such Computation Year shows that the sums so paid by Tenant were less than Tenant’s Operating Payment for such Computation Year, Tenant shall pay the amount of such deficiency within 10 ten (10) Business Days after Tenant’s receipt of Landlord’s Statement.