Common use of Operating Expenses Clause in Contracts

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 2 contracts

Samples: Commercial Lease (Karat Packaging Inc.), Commercial Lease (Karat Packaging Inc.)

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Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expense. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Following development and construction of a second building on the property, as described in Subsection 1.4 above, Tenant's pro rata share set forth in Section 1.9 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of both the Tenant's Building and the second building, as the same may change from time to time.

Appears in 2 contracts

Samples: Lease (Fair Isaac & Company Inc), Lease (Fair Isaac & Company Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rentadditional rent commencing on the Commencement Date, (except during the applicable Free Rent Period) Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four ninety (490) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date Including such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1, subject to adjustment as provided in this Lease, and the denominator of which shall be the net rentable area of the Building. Upon termination of the Lease, Landlord and Tenant agree to reconcile within sixty (60) days any amounts due from either party for the over payment or underpayment of operating expenses by Tenant.

Appears in 2 contracts

Samples: Lease Agreement (Insignia Systems Inc/Mn), Commercial Lease (Insignia Systems Inc/Mn)

Operating Expenses. Tenant agrees shall pay from time to pay time an amount (the "Excess") calculated by multiplying (a) the amount by which the Basic Cost (defined below), divided by the Total Rentable Square Feet, exceeds $5.50 (the "Expense Stop"), by (b) the Rentable Square Feet. The Excess may be calculated and collected annually in arrears on a calendar year basis and, in such event, shall be due within thirty (30) days after Landlord furnishes to Tenant a written statement (the "Annual Operating Statement") reflecting the Basic Cost for the calendar year (as Additional Rentmay be adjusted as provided herein) and calculating the Excess, (except during if any. Said statement shall be furnished by April 1 immediately following the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount or as soon thereafter as practicable. Alternatively, Excess may be estimated and collected monthly and then reconciled against Basic Costs at calendar year end. In such event, Landlord shall be adjusted each make and notify Tenant of its good faith estimate of the Excess for the applicable calendar year based upon anticipated Operating Expenses determined (or part thereof), whereafter, Tenant shall pay to Landlord, in Landlord’s reasonable discretion. Within four (4) months following advance on the close first day of each calendar month of such year (or part thereof), an amount equal to the estimated Excess divided by 12 (or such lesser number of months as applicable). From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may re-estimate the event the accounting shows Excess for that the total of calendar year and the monthly payments made by Tenant exceeds the amount installments of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on adjusted accordingly so that, by the ratio that the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid the right, at its own expense full Excess as estimated by Landlord for such year. The Basic Cost (other than the first year in which the Building is occupied) and within six (6) months after Tenant receives Expense Stop shall be prorated for any portion of the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more Term which is less than once each a full calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 2 contracts

Samples: Lease Agreement (Catalog Com Inc), Lease Agreement (Catalog Com Inc)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) TenantLessee’s pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor’s Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set-off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for TenantLessee’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses. As of the date hereof, it is estimated that the Operating Expenses determined in Landlordfor calendar year 2000 will be approximately $2.44 per rentable square foot. Lessor agrees that Lessee’s reasonable discretionobligation to pay Controllable Operating Expenses (i.e., all Operating Expenses other than taxes, insurance and utility costs) shall not be increased by more than five percent (5%) per annum on a cumulative per square foot basis. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundrefunded to Lessee. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described aboveexpense, to audit LandlordLessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice Section. With respect to Landlordsuch audit, but not more than once each calendar yearLessee (i) may review Lessor’s books during office hours, (ii) must perform such audit at the location of Lessor’s books; provided, however, Lessor must provide a location within Texas to review same if its books are otherwise held outside of the United States, (iii) must request such audit correctly discloses an overpayment by Tenant within three (3) years of more than the greater receipt of (a) five percent (5%) its annual reconciliation of Operating Expenses or Expenses, (biv) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for must deliver to Lessor a copy of the reasonable cost results of such audit, and (v) may not audit the same calendar year more than one time. Tenant If, as a result of such audit, it is determined that the Operating Expenses have been overstated by three percent (3%) or more, Lessor shall be required to reimburse Lessee for the costs of such audit within thirty (30) days of receipt of written request therefore. Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 2 contracts

Samples: Commercial Lease (Xtera Communications, Inc.), Commercial Lease (Xtera Communications, Inc.)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premisesbuilding and/or project of which the leased premises are a part. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Lessor may invoice Lessee monthly for Lessee's pro rata share of the estimated operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated operating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates. Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten [Interlineated text] thirty days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Commercial Lease (Microtune Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during a) The amount of the applicable Free Rent Period) Tenant’s pro rata share of Annual Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Section 1 above represents Tenant’s pro rata share 's Share of the estimated Operating Expenses for each the calendar year, year in which the Term commences. Landlord may adjust such amount shall be adjusted each year based upon anticipated from time to time if the estimated Annual Operating Expenses determined in increase or decrease; Landlord may also invoice Tenant separately from time to time for Xxxxxx's Share of any extraordinary or unanticipated Operating Expenses. Each year (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s reasonable discretion. Within four (4) months following 's option, after a sale of the close of each calendar yearProperty), Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section including("Statement") for the preceding calendar year or part thereof. In the event the accounting shows that the total Within 30 days after delivery of the monthly payments made by Statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable overpayment or deficiency then due from one to the other or, at Landlord's option, Landlord may credit Xxxxxx's account for any overpayment. (b) If Tenant does not give Landlord notice within 120 days after receiving Landlord's Statement that Tenant desires to review Landlord’s books and records which are the basis for the Statement, Tenant shall be deemed to have waived the right to contest such Statement. If Tenant timely notifies Landlord that Tenant desires to review such books and records, Tenant shall, pending the resolution of such dispute, nonetheless pay all of Tenant's Share of the Annual Operating Expenses in accordance with the Statement furnished by Landlord. Tenant, at Tenant's expense (except as set forth below), may audit the Statement under the following conditions: (A) Tenant provides notice of its intent to audit within 120 days after receiving the Statement; (B) the audit is performed by Tenant applicable or a certified public accountant that has not been retained on a contingency basis or other basis where its compensation relates to the year in which such termination shall occur cost savings of Tenant; (C) the audit is completed no later than 30 days after the date Landlord makes all of the necessary books and records available to Tenant or Tenant's auditor; (D) the audit must be conducted during normal business hours, at the location where Landlord maintains its books and records; (E) the contents of the books and records of Landlord shall be prorated on kept confidential by Xxxxxx, its auditor and its other 126390.00400/118481426v.4 04/15/2019 05:55 A4P4 professional advisors, other than as required by Laws; and (F) in the ratio event that Tenant or its auditor determines that an overpayment is due Tenant, Tenant or Tenant's auditor shall produce a detailed report addressed to both Landlord and Tenant with its calculated conclusions within 30 days after the number of days from the commencement completion of the calendar year audit. Landlord and Tenant shall work together in good faith to and including resolve any issues raised in Tenant's audit. Upon the Expiration Date bears resolution of such dispute, any amount due Tenant (if any) shall be credited against future payments of Rent or, if no further Rent is due, pay such amount to 365Tenant within 30 days after the date of such resolution. Tenant shall have the rightbe responsible for all costs, at expenses and fees incurred in connection with its own expense and within six (6) months after Tenant receives the accounting described aboveaudit; provided, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the parties determine through Tenant's audit correctly discloses an overpayment by that Tenant of more than the greater of (a) five percent (5%) of has overpaid its Annual Operating Expenses or its utilities each by more than seven (b) Five Hundred and No/100 Dollars ($500.007%), Landlord shall pay for the reasonable cost third-party costs of such auditaudit not to exceed $3,500.00. Tenant agrees Landlord's and Xxxxxx's obligation to keep the results of any audit strictly confidential and pay any Additional Rent overpayment or deficiency due under the other pursuant to this section Section and Tenant's examination rights set forth in this subsection (b) shall survive the expiration or termination of this Lease. (c) Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, equitably determine from time to time the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to various types of space within ten days following receipt the Building to reflect any disparate levels of services provided to different types of space. If the invoice or accounting showing Additional Rent dueBuilding is not fully occupied during any period, Landlord may make a reasonable adjustment to those components of Operating Expenses which vary with variations in Building occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as though the Building had been fully occupied.

Appears in 1 contract

Samples: Lease Agreement (Penumbra Inc)

Operating Expenses. Tenant agrees shall pay from time to time an amount (the “Excess”) calculated by multiplying (a) the amount by which the Basic Cost (defined below), divided by the Total Rentable Square Feet, exceeds $5.50 (the “Expense Stop”), by (b) the Rentable Square Feet in the Premises. The Excess may be calculated and collected annually in arrears on a calendar year basis and, in such event, shall be due within thirty (30) days after Landlord furnishes to Tenant a written statement (the “Annual Operating Statement”) reflecting the Basic Cost for the calendar year (as may be adjusted as provided herein) and calculating the Excess, if any. In no event shall Tenant be obligated to pay as Additional Rent, (except during any Excess for the first twelve months of occupancy. Said statement shall be furnished by April 1 immediately following the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount or as soon thereafter as practicable. Alternatively, Excess may be estimated and collected monthly and then reconciled against Basic Costs at calendar year end. In such event, Landlord shall be adjusted each make and notify Tenant of its good faith estimate of the Excess for the applicable calendar year based upon anticipated Operating Expenses determined (or part thereof), whereafter, Tenant shall pay to Landlord, in Landlord’s reasonable discretion. Within four (4) months following advance on the close first day of each calendar month of such year (or part thereof), an amount equal to the estimated Excess divided by 12 (or such lesser number of months as applicable). From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may re-estimate the event the accounting shows Excess for that the total of calendar year and the monthly payments made by Tenant exceeds the amount installments of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on adjusted accordingly so that, by the ratio that the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid the right, at its own expense full Excess as estimated by Landlord for such year. The Basic Cost (other than the first year in which the Building is occupied) and within six (6) months after Tenant receives Expense Stop shall be prorated for any portion of the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more Term which is less than once each a full calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Realpage Inc)

Operating Expenses. In the event Landlord's Operating Expenses ------------------ shall, in any calendar year during the Term, exceed the sum of the actual operating costs for the base year 1992 (the "Expense Stop"), Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s 's pro rata share of such excess Operating Expenses (as hereinafter defined) for the Leased PremisesExpenses. For purposes of this Lease, Tenant’s 's pro rata share of excess Operating Expenses shall be paid 4.061%, said percentage determined by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to dividing the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)square footage of the Premises by the total square footage of the Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated excess Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated excess Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord shall use reasonable efforts to provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses Additional Rent due under this section includingwithin one hundred twenty (120) days of the close of each calendar year; provided, however, Landlord's failure to so provide an accounting within one hundred twenty (120) days shall in no way bar Landlord from providing Tenant any such accounting at a later date, nor limit Tenant's liability for its pro rata share of excess Operating Expenses. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent due by Tenant under this section, Landlord shall credit any such amount against the accounting shall be accompanied by a refundBase Rent payment next coming due. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses Additional Rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. Notwithstanding any other provision in this Agreement, during the year in which the Agreement terminates, Landlord, prior to the Expiration Date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses based upon the previous year's Operating Expenses. If this Lease Agreement commences on a day other than the first day of a calendar year, the amount of any such excess Operating Expenses payable by Tenant applicable to the year in which the Terms commences shall be prorated on the ratio that the number of days from the Commencement Date to the end of the calendar year bears to 365. If this Agreement shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent such excess Operating Expenses payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any an Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due. The provisions of this Agreement concerning the payment of Additional Rent shall survive the expiration of earlier termination of the Term. Notwithstanding anything to the contrary contained herein, in the event the Building is not at least ninety-five percent (95%) occupied at all times during any calendar year, appropriate adjustments shall be made by Landlord so as to determine excess Operating Expenses as though the Building had been ninety-five percent (95%) occupied at all times in such calendar year.

Appears in 1 contract

Samples: Standard Tenancy Agreement (Argosy Education Group Inc)

Operating Expenses. Tenant agrees Lessee shall pay to Lessor any increase in the Operating Expenses above the Base Year Operating Expenses incurred in subsequent calendar years of the term as additional Rent. Lessor will notify Lessee of any increase in actual Operating Expenses above the Base Year Operating Expenses, together with a detailed written explanation of the increase, after the conclusion of the calendar year in which such Operating Expenses were incurred. Within thirty (30) days after receipt of such notice, Lessee will pay as Additional Rentthe increased amount to Lessor, subject to Lessee's right of audit set forth below. If Lessor projects Operating Expenses for any coming calendar year after 1997 to be in excess of the Base Year Operating Expenses, Lessor may notify Lessee of its projections, with a detailed explanation of the increase, and Lessee will pay the estimated projected excess in advance in equal monthly installments. If Lessor exercises its right to project estimated Operating Expense increases over the Base Year Operating Expenses and collect for such projected increases over the calendar year in which the expenses are incurred, Lessor shall provide Lessee with a detailed written statement of the actual Operating Expenses paid for such year, within sixty (except 60) days of the end of the such year. Any overpayment by Lessee based on the projections will be credited to Lessee's account for the coming year or if paid during the applicable Free Rent Period) Tenant’s pro rata share last year of the Lease term, refunded upon termination of this Lease. Lessee shall have the right to conduct an audit of Operating Expenses pertaining to a particular calendar year at any time until the 90th day following Lessee's receipt of a written statement from Landlord setting forth the actual Operating Expenses incurred or paid for such calendar year. Lessee shall give Lessor ten (as hereinafter defined10) days prior written notice to conduct an audit of the Operating Expenses. If the results of such audit show that the Lessee's charges have been overstated, Lessor shall refund immediately any balance due Lessee and, if the audit determines that the amount charged to Lessee was overstated by three percent (3%) or more, Lessor shall reimburse Lessee for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share cost of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentaudit. If this Lease shall the term hereunder does not terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur Operating Expenses shall be prorated on pro rated based upon Lessee's occupancy during the ratio that the number of days from the commencement of the final calendar year on a per diem basis. It is acknowledged and agreed that if Lessee files a timely objection to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of any excess in Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)as a result of an audit, Landlord Lessee shall not be in default hereunder for failure to pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueexcess.

Appears in 1 contract

Samples: Real Estate Lease (Analytical Surveys Inc)

Operating Expenses. (a) For each Expense Recovery Period, Tenant agrees to pay shall pay, as Additional Rent, Tenant’s Percentage Share (except as set forth in the Basic Lease Provisions) of Operating Expenses (defined below). Tenant acknowledges Landlord’s rights to make changes or additions to the Building from time to time pursuant to Section 6.5 below, in which event the total rentable square footage within the Building shall be adjusted. (b) Commencing prior to the start of the first full Expense Recovery Period of the Lease (as set forth in Item 7 of the Basic Lease Provisions), and prior to the start of each full or partial Expense Recovery Period thereafter, Landlord shall give Tenant a written estimate of the amount of Tenant’s Percentage Share of Operating Expenses for the Expense Recovery Period or portion thereof. Tenant shall pay the estimated amount to Landlord in equal monthly installments in advance with Base Rent. If Landlord has not furnished its written estimate for any Expense Recovery Period by the time set forth above, Tenant shall continue to pay cost reimbursements at the rates established for the prior Expense Recovery Period, if any; provided that when the new estimate is delivered to Tenant, Tenant shall, at the next monthly payment date, pay any accrued cost reimbursements based upon the new estimate. (c) Within one hundred twenty (120) days after the end of each Expense Recovery Period, Landlord shall endeavor to furnish to Tenant a statement showing in reasonable detail the actual or prorated Operating Expenses incurred by Landlord during the applicable Free Rent Periodperiod and the parties shall, within thirty (30) days thereafter, make any payment or allowance necessary to adjust Tenant’s pro rata estimated payments, if any, to Tenant’s Percentage Share of actual Operating Expenses for such Expense Recovery Period as shown by the annual statement. Any amount due Tenant shall be credited against installments next coming due under this Section 4.2, and any deficiency shall be paid by Tenant together with the next installment. If Tenant has not made estimated payments during the Expense Recovery Period, any amount owing by Tenant pursuant to subsection (a) above shall be paid to Landlord in accordance with Article XVI. Should Tenant fail to object in writing to Landlord’s determination of actual Operating Expenses within sixty (60) days following delivery of Landlord’s expense statement, Landlord’s determination of actual Operating Expenses for the applicable Expense Recovery Period shall be conclusive and binding on the parties. (d) Even though the Lease has terminated and the Tenant has vacated the Premises when the final determination is made of Tenant’s share of Operating Expenses (as hereinafter defined) for the Leased PremisesExpense Recovery Period in which the Lease terminates, Tenant shall, upon notice, pay the entire increase due over the estimated expenses paid. For purposes Conversely, any overpayment made in the event expenses decrease shall be rebated by Landlord to Tenant. (e) If, at any time during any Expense Recovery Period, any one or more of this Leasethe Operating Expenses are increased to a rate(s) or amount(s) in excess of the rate(s) or amount(s) used in calculating the estimated expenses for the year, then Tenant’s pro rata estimated share of Operating Expenses shall be paid increased for the month in which the increase becomes effective and for all succeeding months by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears an amount equal to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata proportionate share of the increase. Landlord shall give Tenant written notice of the amount or estimated amount of the increase, the month in which the increase will become effective, Tenant’s monthly share thereof, and the months for which the payments are due. Tenant shall pay the increase to Landlord as a part of Tenant’s monthly payments of estimated expenses, as provided in paragraph (b) above, commencing with the month in which it is effective. (f) The term Operating Expenses shall include all expenses of operation and maintenance of the Building, together with all appurtenant Common Facilities (as defined in Section 6.2), and shall include the following charges by way of illustration but not limitation: water and sewer charges; taxes; insurance premiums or reasonable premium equivalents, should Landlord elect to self-insure any risk that Landlord is authorized to insure hereunder; license permit and inspection fees; heat; light; power; janitorial services; air conditioning; supplies; materials; equipment; tools; programs instituted to comply with transportation management requirements and Landlord’s parking management programs, including shuttles to and from off site locations; tenant services; amortization of capital investments over their useful life in accordance with generally accepted accounting principles; labor; reasonably allocated wages and salaries fringe benefits and payroll taxes for each calendar yearadministrative and other personnel directly applicable to the Building, including both Landlord’s personnel and outside personnel but exclusive of personnel above the level of building manager; any expense incurred pursuant to Sections 6.1, 6.2, 6.4, 7.2 and 10.2 and Exhibits B and C below; and a reasonable overhead/management fee. It is understood that Operating Expenses shall include competitive charges for direct services provided by any subsidiary or division of Landlord. The term “taxes,” as used herein shall include the following: (i) all real estate taxes or personal property taxes, as such property taxes may be reassessed from time to time; (ii) other taxes, documentary transfer fees, charges and assessments which amount are levied with respect to this Lease or to the Building, and any improvements, fixtures and equipment and other property of Landlord located in the Building except that general net income and franchise taxes imposed against Landlord shall be adjusted each year based upon anticipated Operating Expenses determined excluded; (iii) any tax surcharge or assessment which shall be levied in Landlord’s reasonable discretion. Within four addition to or in lieu of real estate or personal property taxes other than taxes covered by Article VIII; and (4iv) months following costs and expenses incurred in contesting the close amount or validity of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section includingany tax by appropriate proceedings. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses utility expenses are reduced due by Tenant under this sectionto deregulation, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur Tenant’s Operating Expense Base Year shall be prorated on adjusted to reflect the ratio that the number reduced utility expenses. A copy of days from the commencement Landlord’s unaudited statement of expenses shall be made available to Tenant upon request. The Operating Expenses may be extrapolated by Landlord to reflect at least ninety-five percent (95%) occupancy of the calendar year to and including rentable area of the Expiration Date bears to 365. Tenant Building during any Expense Recovery Period. (g) Landlord shall have the right, at its own expense from time to time, to allocate some or all of the Operating Expenses for the Building among different portions, such as office or retail portions, of the Building (“Cost Pools”), in accordance with generally accepted accounting and management practices. The Operating Expenses within six each Cost Pool shall be allocated and charged to tenants within such Cost Pool as an amount per square foot of rentable area, based upon the total rentable area within such Cost Pool. The Operating Expenses for the Building (6or only those Operating Expenses allocable to the Cost Pool of the Building which includes the tenants of such space, if such an allocation is made) months after Tenant receives shall be allocated and charged to tenants based on the accounting described rentable area of the Building (or based on the rentable area of such Cost Pool if such an allocation of Operating Expenses is made). (h) Without limiting the generality of the terms and provisions of subparagraph (c) above, Tenant shall have the right to audit review or audit, at Tenant’s sole cost, any of Landlord’s books relevant and records pertaining to the Additional Rent payable under this section upon reasonable Operating Expenses or Landlord’s calculations of Tenant’s Percentage Share thereof, on thirty (30) days’ advance written notice thereof to Landlord, but not which notice shall be delivered, if at all, within one (1) year of Landlord’s delivery of the annual expense reconciliation statement to Tenant. In no event shall Tenant perform more than once each one audit during any calendar year; however. Such review or audit shall take place where such records are kept (provided such location is in the general geographic region of the Building), if and shall be conducted by a reputable firm which regularly provides such services or any reputable accounting firm chosen by Tenant. Tenant shall use all reasonable efforts to minimize interference with Landlord’s business during any such audit and Tenant shall provide a copy of such audit to Landlord within thirty (30) days of receipt of same by Tenant. If such examination shall establish any overcharge by Landlord, the audit correctly discloses an overpayment by Tenant amount of more than the greater of (a) five percent (5%) of such overcharge shall be automatically credited against Tenant’s Operating Expenses contributions next coming due hereunder, or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall upon the expiration or termination of this Lease pay for to Tenant the reasonable cost of such audit. Tenant agrees to keep the results unapplied balance of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duesuch credit.

Appears in 1 contract

Samples: Office Space Lease (New Age Beverages Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease (Fair Isaac & Company Inc)

Operating Expenses. Tenant If Lessor's Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceeds the Operating Expense Base, Lessee agrees to pay as Additional Rentadditional rent Lessee's Share of Such Excess Operating Expenses. As used herein, (except during the applicable Free Rent Period) Tenant’s pro rata share term "Lessee's Share of Such Excess Operating Expenses" means the amount by which Lessor's Operating Expenses (as hereinafter defined) per net rentable square foot for the Property exceed the Operating Expense Base, multiplied by the net rentable square feet comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's share of the estimated Operating Expenses increase in operating expenses for each calendar yearyear beginning with calendar year 1997, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor's right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s during Lessor's regular business hours Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Section.. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (Vista Energy Resources Inc)

Operating Expenses. Tenant agrees In addition to pay Base Rent and other sums due under the Lease, the triple net Operating Expenses per rentable square foot per annum are estimated as Additional Rentfollows: Taxes, Insurance and Common Area Maintenance $1.63 per rentable square foot per annum (except during i.e., $6,520.00 monthly) Section 1(b) of Exhibit C of the applicable Free Rent Period) Tenant’s pro rata share Original Lease is deleted and replaced with the following: “Operating Expenses are comprised of “Controllable Expenses” and “Non-Controllable Expenses.” Controllable Expenses are those components of Operating Expenses (as hereinafter defined) for the Leased Premisesthat are not related to taxes, insurance, snow removal, utilities, and/or collectively-bargained union wages. For purposes of this Lease, Tenant’s pro rata share Non-Controllable Expenses are those components of Operating Expenses that are not Controllable Expenses. Notwithstanding any provision of the Lease to the contrary, for the purpose of calculating Tenant’s Proportionate Share of Operating Expenses each calendar year through December 31, 2010, the items of Controllable Expenses shall be paid by Tenant in deemed not to increase more than ten percent (10%) per calendar year (determined on a compounding basis throughout said Term of the proportion Lease) from each prior calendar year (calculated on a per square foot basis to take into account deletion of the Give-Back Premises on the Effective Date and annualized to account for partial years); provided, however, that no item of Operating Expenses other than Controllable Expenses shall be subject to the foregoing limitation; and provided further, that the Rentable Area in percentage increase shall be determined on a cumulative basis such that if the Leased Premises average increase for all expired calendar years and the next calendar year is less than ten percent (10%), then the percentage increase for the next calendar year may exceed ten percent (10%) so long as the average increase for all expired calendar years and the next calendar year do not exceed ten percent (10%) per calendar year. There shall be no cap on Non-Controllable Expenses. The above amounts are estimates only and subject to actual costs and expenses. The payments set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount above shall be adjusted due and payable in equal monthly installments, each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following such monthly installment due and payable on the close first day of each calendar yearmonth, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionadvance, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to without demand and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses without setoff or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duededuction whatsoever.

Appears in 1 contract

Samples: Lease Agreement (Sport Supply Group, Inc.)

Operating Expenses. Tenant agrees shall pay an amount (per each rentable square foot in the Premises) equal to pay as Additional Rent, the excess (except "Excess") from time to time of actual Basic Cost per rentable square foot in the Project over the actual Basic Cost incurred during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses 2016 calendar year (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%"Expense Stop"). Landlord may invoice collect such amount in a lump sum, to be due within thirty (30) days after Landlord furnishes to Tenant monthly the Annual Cost Statement. Alternatively, Landlord may make a good faith estimate of the Excess to be due by Tenant for Tenant’s pro rata share any calendar year or pa1t thereof during the Term, and, unless Landlord delivers to Tenant a revision of the estimated Operating Expenses Excess, Tenant shall pay to Landlord, on the Commencement Date and on the first day of each calendar month thereafter, an amount equal to the estimated Excess for such calendar year or part thereof divided by the number of months in such calendar year during the Term. From time to time during any calendar year, Landlord may estimate and re­ estimate the Excess to be due by Tenant for that calendar year and deliver a copy of the estimate or re­ estimate to Tenant. Thereafter, the monthly installments of Excess payable by Tenant shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of the Excess as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to adjustment pursuant to this Section 4.(b) when actual Basic Cost is available for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined . in Landlord’s reasonable discretion. Within four (4) months following the close of each event that the Building is not fully leased during any calendar year, Landlord may make appropriate adjustments to the Basic Cost to adjust such expenses to a 95% leased basis, and such adjusted expenses shall provide Tenant an accounting showing be used for purposes of this Section 4(b). ​ For the purposes of this Section 4.(b), the term "Basic Cost" shall mean all expenses and disbursements of every kind (subject to the limitations set forth below) which Landlord incurs, pays or becomes obligated to pay in reasonable detail all computations of Operating Expenses due under this section including. In connection with the event the accounting shows that the total ownership, operation, and maintenance of the monthly payments made by Tenant exceeds Project, determined in accordance with generally accepted federal income tax basis accounting principles consistently applied, including but not limited to the amount following: (I) Wages and salaries (including management fees) of Operating Expenses due by Tenant under this sectionall employees engaged in the operation, the accounting shall be accompanied by a refund. In the event the accounting shows that the total repair, replacement, maintenance, and security of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this sectionProject, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar yearincluding taxes, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to insurance and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.benefits relating thereto;

Appears in 1 contract

Samples: Lease Agreement (ClearSign Technologies Corp)

Operating Expenses. Tenant agrees In addition to pay as Additional the payment of Base Rent, during each calendar year of the Term following the calendar year 2019 (except during the applicable Free Rent Period“Base Year”) Tenant shall pay to Landlord as additional rent Tenant’s pro rata share Share of any increase in Operating Expenses paid or incurred by Landlord during such calendar year (as hereinafter defined“Increased Operating Expenses”) which are in excess of the Operating Expenses paid or incurred by Landlord for the Leased PremisesBase Year. For purposes Landlord may, at or after the start of any calendar year subsequent to the Base Year, notify Tenant of the amount which Landlord estimates will be Tenant’s Share of the Increased Operating Expenses for such calendar year, and Tenant shall pay to Landlord monthly in advance, at the time and place that monthly Base Rent is payable under this Lease, one-twelfth (1/12) of such estimate. Landlord may, from time to time, reasonably revise Landlord’s estimate of Increased Operating Expenses by written notice to Tenant and Tenant shall pay Tenant’s pro rata share Share based upon such revised estimate. Landlord shall provide Tenant with an annual Statement (“Statement”) of the actual Increased Operating Expenses shall be incurred or paid by Landlord for each calendar year subsequent to the Base Year within one hundred twenty (120) days after the end of each calendar year, or as soon thereafter as reasonably practical. If Tenant’s Share of Increased Operating Expenses as shown on such Statement is greater or less than the total estimated amounts actually paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears with respect to the total Rentable Area calendar year covered by such Statement, then within thirty (30) days after receipt of the Statement, Tenant shall pay in Unit A and cash any sums owed to Landlord and or, if applicable, Tenant agree that shall receive a credit against Tenant’s Share of Increased Operating Expenses next accruing for any sum overpaid by Tenant. Following expiration of the calendar year in which the Term expires or during which this Lease is terminated, Landlord shall give a final Statement to Tenant for such pro rata share shall equal portion of the calendar year within one hundred percent twenty (100%)120) days after the end of the Term. If Tenant’s Share of any Increased Operating Expenses as shown on the final Statement is greater or less than the total amount of Increased Operating Expenses actually paid by Tenant with respect to the calendar year covered by the final Statement, then within thirty (30) days after the delivery of the Statement to Tenant the appropriate party shall pay to the other party any sums owed. Landlord may invoice Tenant monthly for Tenant’s and Tenant shall pay its pro rata share of the estimated such Increased Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionwithin ten (10) days of invoice. Within four (4) months following the close The obligations of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by and Tenant under this section, Section shall survive the accounting shall be accompanied by a refund. In the event the accounting shows that the total expiration or sooner termination of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLease.

Appears in 1 contract

Samples: Office Lease (Vickers Vantage Corp. I)

Operating Expenses. Tenant agrees to shall also pay as Additional Rentadditional rent Tenant’s Pro Rata Share of the Operating Expenses of Landlord for the Building of which the Premises are a part. Landlord shall, (except on or before December 31st of each calendar year during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Term of this Lease, Tenant’s pro rata share give Tenant an estimate of the Operating Expenses payable per square foot of rentable area for the next calendar year. Tenant shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises pay, as additional rent, along with its monthly Base Rent, one-twelfth (as set forth hereinabove1/12) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that of such pro rata share shall equal one hundred percent (100%)estimated Operating Expenses. Landlord may invoice Tenant monthly for Tenant’s pro rata share Pro Rata Share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting prepared in accordance with Generally Accepted Accounting Principals (GAAP) showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.9 shall be equal to a percentage based upon a fraction, the numerator of which is the rentable square feet of space in the Premises as set forth in Section 1.2 and the denominator of which shall be the rentable square feet of space in the Building as set forth in Section 1.2.

Appears in 1 contract

Samples: Commercial Lease (Enpath Medical Inc)

Operating Expenses. In addition to Base Rent payable under paragraph 3.1 above, Tenant agrees to pay as Additional RentRent its pro-rata share of the "Operating Expenses" (hereinafter defined) for the Building and, (except during to the applicable Free Rent Period) Tenant’s pro extent applicable, to the Property. The pro-rata share of Operating Expenses (as hereinafter defined"Share") for to be paid by Tenant shall be 34.79% (596,676 divided by 1,715,000) of the Leased PremisesOperating Expenses. For purposes of this Lease, Tenant’s pro rata share 's Share of Operating Expenses shall include no less than $.40 per square foot per year (which amount consists of $.23 per square foot for Real Property Taxes [as herein defined], $.07 per square foot for insurance and $.10 per square foot for common area maintenance charges) and an additional amount for Tenant's use of the telephone system in the Building. Landlord shall deliver monthly invoices to Tenant for Tenant's Share of Operating Expenses, and such invoices shall be due and payable within ten (10) days of receipt. From time to time during the Term, Landlord shall send a statement of Operating Expenses to Tenant for any portion of the Term that has expired providing in reasonable detail a statement of all Operating Expenses incurred in the operation of the Property along with the amount representing Tenant's Share thereof. Tenant shall be given a credit against its Share of future Operating Expenses payable for any overpayment of Operating Expense that have been paid up to the time of said statement. If Tenant has underpaid, then the balance due shall be paid to Landlord by Tenant within thirty (30) days of the date of said statement unless the statement is rendered at the end of the Term in which case any overage due the Landlord will be paid by Tenant in check at the proportion that the Rentable Area in time the Leased Premises (as set forth hereinabove) bears are delivered to Landlord by Tenant. Concurrent with the total Rentable Area in Unit A invoice described above, Landlord shall also provide an estimate of the Operating Expenses and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share a statement of the estimated monthly Operating Expenses Expense payable by Tenant as additional rent under the terms of this Lease. Tenant's liability for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations its Share of Operating Expenses due under this section including. In shall commence on the event the accounting shows that the total date of Tenant's actual occupancy of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionLeased Premises, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable without regard to the year in which such termination shall occur shall be prorated on date the ratio that the number payment of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Base Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duecommences.

Appears in 1 contract

Samples: Warehouse Lease Agreement (Excal Enterprises Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during The amount of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) above represents Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for each the calendar year, year in which the Term commences. Landlord may adjust such amount shall be adjusted from time to time if the estimated Annual Operating Expenses increase or decrease. By April 30th of each year based upon anticipated Operating Expenses determined in (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s reasonable discretion. Within four (4) months following option, after a sale of the close of each calendar yearProperty), Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a statement of Operating Expenses due under this section includingfor the preceding calendar year or part thereof. In the event the accounting shows that the total Within 30 days after delivery of the monthly payments made by statement to Tenant, Landlord or Tenant exceeds shall pay to the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable overpayment or deficiency then due from one to the year other. If Tenant does not give Landlord notice within 30 days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in which such termination shall occur dispute, Tenant shall be prorated on deemed to have waived the ratio that right to contest the number statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section shall survive the expiration or termination of days this Lease. Notwithstanding any other provision of this Lease to the contrary, Landlord may, in its reasonable discretion, determine from time to time the commencement method of the calendar year to computing and allocating Operating Expenses, including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant method of more than the greater of (a) five percent (5%) of allocating Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)to various types of space within the Building to reflect any disparate levels of services provided to different types of space. If the Building is not fully occupied during any period, Landlord shall pay make a reasonable adjustment based on occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as though the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueBuilding had been fully occupied.

Appears in 1 contract

Samples: Lease Agreement (Uroplasty Inc)

Operating Expenses. Tenant agrees shall pay to pay as Additional Rent, (except during the applicable Free Rent Period) Landlord Tenant’s pro rata share Proportionate Share of all of the Operating Expenses (as hereinafter defined) for the Leased PremisesProperty. For purposes Tenant shall make such payments in equal monthly installments on the first (1st) day of this Leaseeach month commencing on the Commencement Date. This amount shall be prorated for any partial month, from the Commencement Date and continuing throughout the Term on the first (1st) day of each calendar month during the Term, as Additional Rent, without notice, demand or setoff. The amount of the Operating Expenses represents Tenant’s pro rata share Proportionate Share of the estimated Operating Expenses during each calendar year on an annualized basis. Landlord anticipates that Tenant’s Proportionate Share of Operating Expenses shall be paid by Tenant in $2.25 per square foot of the proportion that Premises due the Rentable Area in first calendar year of the Leased Premises (as set forth hereinabove) bears Term. From time to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). time Landlord may invoice Tenant monthly for Tenant’s pro rata share of adjust such estimated amount if the estimated Operating Expenses for each calendar year, which amount shall be adjusted increase. By April 30th of each year based upon anticipated Operating Expenses determined (and as soon as practical after the expiration or termination of this Lease in Landlord’s reasonable discretion. Within four (4) months following the close event of each calendar yeara sale of the Property), Landlord shall endeavor to provide Tenant an accounting showing in reasonable detail all computations with a statement of the actual amount of such Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentpreceding calendar year or part thereof and Tenant’s Proportionate Share thereof (the “O perating E xpense Statement”). If this Lease Landlord or Tenant shall terminate on a day pay to the other than the last day of a calendar year, the amount of any Additional Rent payable deficiency or overpayment then due from one to the other within thirty (30) days of Tenant’s receipt of the Operating Expense Statement or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. Tenant’s obligation to pay the Operating Expenses pursuant to this Section shall survive the expiration or termination of this Lease. Tenant (or a certified public accountant paid by Tenant applicable to the year but not paid on a contingency basis in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant whole or in part) shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each within any calendar year; however, if to examine Landlord's books and records with regard to Operating Expenses, within thirty (30) days after Landlord submits its year-end statement. Tenant's right of examination shall be exercised during reasonable business hours at Landlord's principal office on at least ten (10) business days' notice to Landlord given within thirty (30) days after Landlord submits its year-end statement. As a condition precedent to Tenant's right to audit, Tenant must pay to Landlord all amounts shown as due in the audit correctly discloses an overpayment by year-end statement. Tenant shall provide Landlord with a copy of more than the greater of auditors report within ten (a10) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for days after the reasonable cost of such audit. Tenant agrees to keep If the results of any Tenant's audit strictly confidential show that Tenant has overpaid Operating Expenses, provided Tenant is not in default in payment Operating Expenses and pay any Additional all other Rent then due under this section Lease, the excess will be refunded by Landlord within ten thirty (30) days following after receipt of Tenant's notice specifying the invoice amounts due, unless Landlord in good faith disputes Tenant's finding. Nothing contained herein shall permit Tenant any right of deduction or accounting showing Additional Rent dueset-off. Tenant covenants and agrees that all information obtained from its examination and any agreements with Landlord in connection therewith shall be held in strict confidence by Tenant, its officers, agents, employees and auditors and that no information shall be disclosed to any other parties, including without limitation, other tenants in the Building.

Appears in 1 contract

Samples: Lease Agreement

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease (Intranet Solutions Inc)

Operating Expenses. A. In addition to the base rent set forth above, Tenant agrees to shall pay as Additional Rent, (except Landlord on the first day of each month during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes term of this Lease, a sum which is equal to one Twelfth (1/12) of Sixty-Five percent (65%) (“Tenant’s pro rata share Prorated Share”) of the estimated annual real estate taxes to be levied upon the Building and the Property upon which the Premises is located and the estimated annual Operating Expenses incurred by Landlord in connection with the maintenance and operation of the Building and the Premises and paid by Landlord in each calendar year during the term of this Lease, with proper adjustments to exclude any such charges for the portion of the first and last calendar years which precede commencement and follow expiration of this Lease, and to exclude any increases in such charges due to a change in the assessed value of any property, other than the Premises owned by Landlord. If not definitively established by invoice, the annual real estate taxes and Operating Expenses to be allocated to Tenant hereunder shall be estimated based upon such expenses incurred by Landlord during the preceding 12 month period. Each year during the term of this Lease, on or before January 31st, Landlord shall provide to Tenant verification of the actual taxes and Operating Expenses paid by Landlord during the preceding year. If such taxes and Operating Expenses paid exceed the estimated amounts used in calculating Tenant’s Prorated Share, then Landlord shall invoice Tenant for the difference and Tenant shall pay such sum within 30 days of receipt of such invoice. If the estimate of taxes and Operating Expenses utilized by Landlord in calculating Tenant’s Prorated Share for the preceding year exceeded the actual taxes and Operating Expenses paid by Landlord, then Landlord shall, at its election, either refund such excess payment to Tenant within 30 days after delivery of such verification to Tenant, or credit such amount against Tenant’s next monthly payment(s) of base rent and taxes and Operating Expenses. Other than the monthly payment of Tenant’s Prorated Share of taxes and Operating Expenses set forth above, Tenant shall not be obligated in any manner to pay any other taxes or expenses incurred by Landlord in connection with the management, use and operation of the Premises, the Building and the Property, and Landlord shall be solely responsible for the timely payment thereof. B. For the purpose of this Lease, Operating Expenses shall be defined as including ordinary and reasonable expenses incurred by Landlord in connection with the maintenance and operation of the Building and the Property, excluding such costs for maintenance and repairs which are Landlord’s responsibility hereunder. Such Operating Expenses shall include costs of landscaping, snow and ice removal, pest control, the cost of a maintenance agreement(s) covering the HVAC system(s) servicing the Building and the Premises, insurance premiums paid by landlord for property and casualty insurance on the Building and the related and appurtenant improvements and for liability insurance as required herein. However, the term Operating Expenses shall not include repairs, restoration, or other work occasioned by casualty, whether such casualty and loss is covered by insurance or not, any taxes charged or levied against Landlord (real estate taxes being covered elsewhere herein), expenses incurred by Landlord in leasing space, procuring tenants or marketing available leasehold space, leasing commissions, costs of completing tenant improvements, interest or principal payments on any mortgage or other indebtedness, or any salary or other compensation paid by Landlord to any employees, on any costs incurred by Landlord which are the responsibility of any other tenant or occupant in the Building to pay. In addition, Operating Expenses shall not include costs of any capital improvements, repairs or replacements completed by Landlord, unless such improvements are requested by Tenant and the cost thereof has been expressly approved by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duewriting.

Appears in 1 contract

Samples: Assignment and Assumption of Lease (Ohio Legacy Corp)

Operating Expenses. If Landlord's Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceed the Operating Expense Base, Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata 's share of such excess operating expense. As used herein, the term "Tenant's share of such excess Operating Expenses" means the amount by which Landlord's Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Leased Premises. For purposes of this LeaseOperating Expense Base, Tenant’s pro rata share of Operating Expenses shall be paid multiplied by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses net rentable square feet comprising for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexceeded operating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event If the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, within one (1) year following the termination date, shall have the option to invoice Tenant for Tenant's share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovereasonable time, to audit during Landlord’s 's regular business hours Landlord's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice Section. Notwithstanding anything to Landlord, but not more than once each calendar year; howeverthe contrary contained in this Lease, if the audit correctly discloses an overpayment by Tenant of more than Building is not fully occupied during any calendar year, Tenant's additional rent under this Section and the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord operating expenses shall pay for be determined as if the reasonable cost of Building had been fully occupied during such audityear. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due, Calendar year 2001 to be the base for calculation of pass through of operating expenses.

Appears in 1 contract

Samples: Office Lease (Access Integrated Technologies Inc)

Operating Expenses. Operating Expenses shall be defined as the sum of (i) Operating Costs, as defined in Article V, Section 1 of the Prime Lease, (ii) Real Estate Taxes, as defined in Article V, Section 4 of the Prime Lease, and (ii) the costs of Sublandlord's Maintenance Obligations, as defined in Section 10 hereof. If, with respect to any calendar year during the Sublease Term after the Operating Expenses Base Year (Which shall be defined as calendar year 1996), the aggregate amount of Operating Expenses exceeds the Operating Expenses for the Operating Expenses Base Year; Tenant agrees shall pay to pay Landlord, as Additional Rent, the entire amount of such excess. Tenant's obligation under this Section 4(b) shall be prorated for partial calendar years at the beginning or end of the Term. After the end of each calendar year included in the Sublease Term, Sublandlord shall send Subtenant a statement showing Operating Expenses (except during i) for the applicable Free Rent Period) Tenant’s pro rata share calendar year just ended ("Actual Expenses"), which statement shall be based in part upon information supplied by Sublandlord, and an estimate of Operating Expenses (as hereinafter defined) for the Leased Premisesthen-current calendar year ("Estimated Expenses"). For purposes Subtenant shall pay Sublandlord on the first day of this Leaseeach month, Tenant’s pro rata share in advance, as Additional Rent, an amount equal to 1/12th of the amount, if any, by which the Estimated Expenses for the then current calendar year exceed the Operating Expenses for the Operating Expenses Base Year. Such payments shall not bear interest and may be commingled by Sublandlord with any other funds of Sublandlord. If the total amount paid by Subtenant in accordance with (ii) above on account of Operating Expenses shall be paid by Tenant in for any calendar year during the proportion that Sublease Term (i) exceeds the Rentable Area in amount due therefor as shown on Sublandlord's statement delivered after the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that end of such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount such excess shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of credited against the monthly payments made by Tenant exceeds installments of Additional Rent next due (or refunded to Subtenant if the amount of Operating Expenses due by Tenant under this sectionSublease Term has expired, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant or (ii) is less than the amount due therefor as shown on Sublandlord's statement delivered after the end of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a such calendar year, then Subtenant shall pay the amount difference to Sublandlord within 30 days after receipt of any Additional Rent payable by Tenant applicable such statement from Sublandlord. Subtenant's rights and obligations under this Section 4(b) with respect to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the last calendar year to and including (or portion thereof) included in the Expiration Date bears to 365. Tenant Sublease Term shall have survive the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under expiration or termination of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueSublease.

Appears in 1 contract

Samples: Sublease (Microsoft Corp)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) Tenant’s Lessee's pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor's Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set-off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundcredited against the next required payment of base rent. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and expense, to audit Lessor's books relevant to the additional rent payable under this Section. With respect to such audit, Lessee 1) may review Lessor's books during office hours, 2) must perform such audit at the location of Lessor's books, 3) must request such audit within six (6) months after Tenant receives of receipt of its annual reconciliation of Operating Expenses, 4) must deliver to Lessor a copy of the accounting described aboveresults of such audit, to 5) may not audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not same calendar year more than once each calendar year; howeverone time. If, if as a result of such audit, it is determined that the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses have been overstated by 3% or (b) Five Hundred and No/100 Dollars ($500.00)more, Landlord Lessor shall pay be required to reimburse Lessee for the reasonable cost costs of such audit. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (American Caresouce Holdings, Inc.)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during a) The amount and percentage of the applicable Free Rent PeriodAnnual Operating Expenses set forth in Section 1(g) and Section 1(h) above represents Tenant’s pro rata share Share of the estimated Operating Expenses for the calendar year in which the Term commences. Landlord shall provide annually prior to January 1 of each calendar year a reasonable estimate of the Annual Operating Expenses due for such calendar year, and Tenant shall pay Tenant’s Share of such estimate in equal installments on a monthly basis as part of Rent. Landlord may adjust such amount from time to time if the estimated Annual Operating Expenses increase or decrease. Landlord may also invoice Tenant separately from time to time for Tenant’s Share of any extraordinary or unanticipated Operating Expenses. By April 30th of each calendar year (and as soon as practical after the expiration or earlier termination of this Lease or, at Landlord’s option, after a sale of the Building or the Property), Landlord shall provide Tenant with a statement of Operating Expenses (as hereinafter defined) representing Tenant’s Share for the Leased Premisespreceding calendar year or part thereof. For purposes Within thirty (30) days after delivery of the statement to Tenant, Landlord or Tenant shall pay to the other the amount of any overpayment or deficiency then due from one to the other or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. If Tenant does not give Landlord notice within sixty (60) days after receiving Landlord’s statement that Tenant disagrees with the statement and specifying the items and amounts in dispute, Tenant shall be deemed to have waived the right to contest the statement. Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due to the other pursuant to this Section 6 shall survive the expiration or earlier termination of this Lease. Notwithstanding any other provision of this Lease to the contrary, Tenant’s pro rata share Landlord may, in its reasonable discretion, determine from time to time the method of computing and allocating Operating Expenses, including the method of allocating Operating Expenses to various types of space within the Building to reflect any disparate levels of services provided to different types of space, and if the scope of the services performed for any building on the Property (including the Building) is disproportionately more or less than for others, Landlord shall be paid by Tenant equitably allocate the costs based on the scope of the services being performed for each building on the Property (including the Building). If the Building is not fully occupied during any period, Landlord may make a reasonable adjustment based on occupancy in computing the proportion Operating Expenses for such period so that Operating Expenses are computed as though the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Building had been fully occupied; provided, however, that Landlord and Tenant agree that such pro rata share shall equal not recover more than one hundred percent (100%)) of Operating Expenses. If Landlord may invoice Tenant monthly shall fail to render a statement for Tenant’s pro rata share Share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within to Tenant within twenty-four (424) months following the close of each applicable calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur Operating Expenses were incurred, then Landlord shall be prorated on the ratio that the number of days deemed to have waived its right to collect such sums from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duehereunder in respect thereof.

Appears in 1 contract

Samples: Lease Agreement (Ocugen, Inc.)

Operating Expenses. In addition to the Base Rent payable by Tenant, Tenant agrees will pay to pay Landlord, as Additional Rentadditional rent, (except during an amount equal to the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (increase in operating expenses, as hereinafter defined) , for each of the lease years over the operating expenses, for the Leased Premises. For purposes of this Leasefirst lease year (October 1, 1997, through September 30, 1998, hereinafter referred to as the Base Lease Year) times 45% (Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%'s Proportionate Share). Lease Year shall mean the period beginning October 1 of each year and ending on September 30 of the following year. The additional rent due pursuant to this section is hereinafter referred to as Operating Rent. During September of each year, or as soon after September as practicable, Landlord may invoice will give Tenant monthly notice of Landlord's estimate of any Operating Rent due for Tenant’s pro rata share the next Lease Year. The Tenant will pay 1/12th of the estimated Operating Expenses for each calendar year, which amount shall be adjusted Rent at the time Base Rent is payable. The estimated Operating Rent payments will begin October 1 of each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionand continue through September 30 of the following year. Within four (4) months following As soon as practicable after the close end of each calendar yearLease Year, Landlord shall provide will deliver to Tenant an accounting showing in reasonable detail all computations a statement of the actual Operating Expenses due under this section includingRent for that Lease Year. In the event the accounting If Landlord's statement shows that Tenant owes an amount that is less than the total of the monthly estimated Operating Rent payments made by Tenant exceeds the amount of Operating Expenses due for such Lease Year, Landlord will credit such excess first against any sums then owed by Tenant under this section, to Landlord and then against the accounting shall be accompanied by a refundnext payments of rental. In the event the accounting If Landlord's statement shows that Tenant owes more than the total of the monthly estimated Operating Rent payments made by Tenant is less than for such Lease Year, Tenant will pay the amount deficiency to Landlord within thirty (30) days after delivery of the statement. The termination of this Lease will not affect the obligations of Landlord and Tenant pursuant to this section be performed after termination. "Operating Expenses due by Tenant under this sectionexpenses" are defined as all direct expenses of operating and maintaining the land, building, and Premises in a manner deemed reasonable and appropriate and for the best interest of the tenants in the building, including, but not limited to, the accounting following: (a) All costs and expenses directly related to the land, building, and Premises for operating and cleaning the Tenant's space in the building, and common areas , and for removing snow, ice and debris, and costs of fire and extended coverage and liability insurance. (b) All costs and expense, other than those of a capital nature, of replacing paving, curbs, walkways, landscaping (including replanting and replacing flowers and other planting), common and public lighting facilities in the building and on the land. (c) Power for lighting common and public areas; power and fuel used in lighting, heating, ventilating and air-conditioning the building; water used by the occupants of the building. (d) Normal maintenance of mechanical and electrical equipment, including heating ventilating and air-conditioning equipment in the building, but excluding capital expenditures. (e) Window cleaning and janitor service, including janitor equipment and supplies for the common and public areas. (f) Maintenance of elevators, restrooms, lobbies, hallways and other common and public areas of the building. (g) Real estate taxes levied or assessed against the building, improvements and the land. Operating expenses as defined herein shall be accompanied accounted for by an invoice Landlord using generally accepted accounting principles and methods consistently applied. Taxes for the Operating Expenses due as Additional RentBase Lease Year shall be the general real estate taxes, special assessments and any other taxes that may be imposed in lieu of or partially in lieu of general real estate taxes, payable in the base year of this Lease. If this Lease Taxes for subsequent calendar years shall terminate on a day other than be deemed to be the last day of a taxes payable in the respective calendar year, even though the levy or assessment thereof may be for a different year, and shall include general real estate taxes, special assessments, and any other taxes that may be imposed in lieu of or partially in lieu of general real estate taxes. Operating expenses shall not include capital expenditures for which the Landlord is reimbursed or indemnified (either by an insurer, condemnor, tenant or otherwise); expenses incurred in leasing or procuring new tenants (including, without limitation, lease commissions, advertising expenses and expenses of renovating space for new tenants); interest or amortization payments on any mortgage or mortgages, and rental under any ground or underlying lease or leases; wages, salaries or other compensation paid to any executive employees above the grade of building manager; wages, salaries or other compensation paid for clerks or attendants in concessions or newsstands operated by the Landlord; expenses in connection with maintaining and operating any garage operated by the Landlord; the cost of any work or service performed for or facilities furnished to the Tenant or other tenants at the Tenant's cost; and any cost or expense representing an amount paid to a corporation related to Landlord which is in excess of the amount of any Additional Rent payable by Tenant applicable to which would be paid in the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost absence of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duerelationship.

Appears in 1 contract

Samples: Lease Agreement (Ruby Tuesday Inc)

Operating Expenses. Tenant agrees A. In addition to pay as Additional the Base Rent, (except as annually adjusted, Lessee shall pay to Lessor during each Lease Year, including the applicable Free Rent Period) Tenantcalendar year in which the Lease term expires, Lessee’s pro rata share of the Operating Expenses (as hereinafter defined) for the Leased PremisesLease Year. For purposes of this Lease, TenantLessee’s pro rata share of Operating Expenses shall be paid computed by Tenant in multiplying the proportion that amount of the Rentable Area in Operating Expenses by Lessee’s Proration Percentage. B. On or about the Leased Premises commencement of each Lease Year, Lessor shall provide Lessee with a written estimate of Lessee’s share of the Operating Expenses for the forthcoming Lease Year. Lessee shall thereafter pay to Lessor, concurrent with the payment of Base Rent during the Lease Year, one-twelfth (1/12) of Lessee’s share of the Operating Expenses, as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenanton Lessor’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section includingwritten estimate. In the event the accounting shows that the total Lessor revises its estimate of Lessee’s share of the Operating Expenses, or if Lessor furnishes such estimate subsequent to the commencement of a Lease Year, Lessor shall furnish to Lessee a statement of any adjustments to be paid or refunded as a result of such revision or late estimate, which adjustment shall, be paid with, or credited against, the next monthly payments made payment by Tenant exceeds the amount Lessee of its share of Operating Expenses or, paid directly to Lessee if a credit is due following Lease expiration. Failure of Lessor to submit the written estimate shall not waive any rights of Lessor hereunder. C. No later than April 1 of each Lease Year, Lessor shall submit to Lessee a statement of Lessee’s share of the actual Operating Expenses for the immediately preceding Lease Year. If Lessee’s share of the actual Operating Expenses exceeds the estimate prepared by Tenant under this sectionLessor at the commencement of the preceding Lease Year, then Lessee shall pay the accounting shall be accompanied by difference to Lessor, in a refundsingle payment, within fifteen (15) days after receipt from Lessor of the amount due. In the event the accounting shows that the total Lessee’s share of the monthly payments made by Tenant actual Operating Expenses is less than the amount estimate prepared by Lessor, then the difference shall be credited to Lessee against current monthly payments of Operating Expenses due by Tenant or, if the term of this Lease has expired or terminated, and Lessee is not then in uncured default under this section, the accounting Lease then Lessor shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other reimburse no later than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement July 1st of the calendar year to following such expiration or termination. D. Lessee may examine (and including the Expiration Date bears to 365. Tenant shall have the rightcopy, at its own expense and Lessee’s expense, for Lessee’s use off-site) Lessor’s records regarding Operating Expenses during normal business hours within six ninety (690) months after Tenant receives days following the accounting described above, to audit Landlord’s books relevant issuance to the Additional Rent payable under this section upon reasonable Lessee of the Statement of Actual Operating Expenses. The Statement of Actual Operating Expenses (the “Statement”) shall be considered as final and acceptable to Lessee unless Lessee objects to the Statement by written notice to Landlordthe Lessor within one hundred eighty (180) days following the issuance of the Statement. It Lessee disputes the accuracy of the Statement, and if such dispute shall not have been settled by agreement between Lessor and Lessee within sixty (60) days of Lessor’s receipt of Lessee’s notice of objection as aforesaid, the issue shall be conclusively determined by an audit performed by a certified public accounting firm located in Palm Beach County and selected by Lessor but not more than once each calendar year; howeverreasonably acceptable to Lessee. Pending resolution of the dispute by the certified public accountant, if Lessee shall pay the audit correctly discloses an amount indicated in the Statement of Actual Operating Expenses, without prejudice to Lessee’s position. If the dispute is resolved in Lessee’s favor, any overpayment by Tenant due to Lessee shall be credited against Lessee’s share of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred for the current Lease Year or, paid directly to Lessee if a credit is due following Lease expiration, and No/100 Dollars ($500.00), Landlord Lessor shall pay for the reasonable cost of such the audit. Tenant agrees to keep If the results of any audit strictly confidential and dispute shall be determined in Lessor’s favor, Lessee shall pay any Additional Rent due under this section within ten days following receipt the cost of the invoice audit, which expenses shall be deemed to constitute additional Rent hereunder. E. The additional building or accounting showing Additional Rent duebuildings may be added to the Real Property. In the event additional building or buildings are added to the Real Property, Lessor reserves the right to reasonably prorate operating expenses attributable to the Real Property between the Building and other buildings on the Real Property.

Appears in 1 contract

Samples: Lease Agreement (Ameripath Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Commercial Lease (Atmi Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Assignment of Lease (Digital River Inc /De)

Operating Expenses. This Lease contemplates a transaction commonly described as a "triple-net lease" whereby the parties intend that Tenant agrees shall bear all of the costs incurred by Landlord in connection with the operation, repair, maintenance, management, restoration and replacement of the Building or any portion thereof, except as otherwise expressly set forth in this Lease (collectively, "Operating Expenses"). In addition to pay as Additional the Base Rent, (except Tenant shall pay to Landlord during the applicable Free Rent Period) Tenant’s pro rata share Term of this Lease 100% of the annual Operating Expenses (attributable to the Building as hereinafter defined) for the Leased Premisesdefined in this Section 3.3. For purposes Payments of this Lease, Tenant’s pro rata share of annual Operating Expenses shall be paid estimated by Landlord and shall be due and payable monthly on the same date as the Base Rent. Operating Expenses payable by Tenant in may be adjusted by Landlord on a quarterly basis should the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated actual Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexceed the then current estimates. Within four sixty (460) months following days after the close expiration of each calendar year, Landlord shall provide Tenant an accounting with a reasonably detailed statement showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the actual amount of Operating Expenses due by Tenant under this section, for the accounting shall be accompanied by a refundprior calendar year. In If the event the accounting shows that the total estimated payments of the monthly payments Operating Expenses made by Tenant is for such prior year pursuant to this paragraph are less than or exceed the amount actual Operating Expenses for such prior year as shown in any such statement of actual Operating Expenses, then Tenant's account will be adjusted to reflect the amounts due. All deficiencies are payable upon receipt of invoice and all overpayments made by Tenant shall be applied as a credit by Landlord to the next installment of Operating Expense reimbursement. Concurrently, with the remittance of the prior year statement, or as soon thereafter as is reasonably possible, Landlord shall advise Tenant of the then current year's estimate of Operating Expenses as well as the monthly payment due by Tenant under this section, thereon. Any deficiencies in monthly billing that may have accrued from either the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If Commencement Date of this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.the

Appears in 1 contract

Samples: Building Lease Agreement (Infosonics Corp)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of 1997 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for such excess operating expenses. However, notwithstanding any provision to the Leased Premises. For purposes of contrary in this Lease, Tenant’s pro rata Lessee's prorata share of Operating Expenses such operating expenses other than taxes, insurance and utilities shall be paid not increase by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred more than seven percent (1007%)) per year over the base year during the term of the Lease or any renewal thereof. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) three months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described aboveduring normal business hours, to audit Landlord’s and photocopy Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Intelect Communications Systems LTD)

Operating Expenses. Tenant If Lessor's Operating Expenses for the Building divided by the net rentable area in the Building, which is hereby stipulated to be 329,178 square feet ("Lessor's Operating Expenses per square foot"), in any calendar year during the term of this Lease exceed the operating Expense Base, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata additional monthly rent Lessee's share of such excess Operating Expenses. The term "Lessee's share of such excess Operating Expenses" means (a) the amount by which Lessor's Operating Expenses per square foot exceed the Operating Expense Base, multiplied by (as hereinafter definedb) for the number of net rentable square feet in the building comprising the Leased Premises, which is hereby stipulated to be 53,232 square feet. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's share of the estimated Operating Expenses excess operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionexcess operating expenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor's right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Lessor, within one (1) year following the termination date, shall have the option to invoice Lessee for Lessee's share of the excess operating expenses for the year of termination. If this Lease shall commence or terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such commencement or termination shall occur shall be prorated on the ratio that the number of days from the commencement date to the end of the calendar year or from the commencement of the calendar year to and including the Expiration Date termination date, as applicable, bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s during Lessor's regular business hours Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; howeverSection. In addition, if the Lessee's audit correctly discloses reveals an overpayment by Tenant overcharge of more than the greater of (a) five percent (5%) of Lessee's share of the excess Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)Expenses, Landlord then Lessor shall on demand pay for the reasonable cost costs of such the audit. Tenant Notwithstanding anything to the contrary contained in this Lease, if the Building is not occupied to the extent of ninety-five percent (95%) of the rentable area thereof, during any calendar year, Lessee's additional rent under this Section and the operating expenses shall be determined as if the Building had been occupied to the extent of ninety-five percent (95%) of the rentable area during such year. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (Amen Properties Inc)

Operating Expenses. Tenant agrees 5.1. LESSEE shall pay to pay LESSOR, as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share LESSEE'S Proportionate Share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes all of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated LESSOR'S Operating Expenses for each calendar year, which amount year during the Term. LESSEE'S Proportionate Share of LESSOR'S Operating Expenses for less than a year shall be adjusted prorated and apportioned. 5.2. On or after the Commencement Date and thereafter within ninety (90) days following the first day of each succeeding calendar year based upon anticipated within the Term, LESSOR shall determine or estimate LESSOR'S Operating Expenses determined for such calendar year ("LESSOR'S Estimated Operating Expenses") and shall submit such information to LESSEE in Landlord’s reasonable discretiona written statement ("LESSOR'S Expense Statement"). 5.3. Within four (4) months Commencing on the first Basic Rent Payment Date following the close submission of each any LESSOR'S Expense Statement and continuing thereafter until LESSOR renders the next LESSOR'S Expense Statement, LESSEE shall pay to LESSOR on account of its obligation under Section 5.1 of this Lease, a sum (the "Monthly Expense Payment") equal to one-twelfth (1/12) of LESSEE'S Proportionate Share of LESSOR'S Estimated Operating Expenses for such calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations . LESSEE'S first Monthly Expense Payment after receipt of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting LESSOR'S Expense Statement shall be accompanied by a refund. In the event payment of an amount equal to the accounting shows that the total product of the monthly number of full months, if any, within the calendar year which shall have elapsed prior to such first Monthly Expense Payment, times the Monthly Expense Payment; minus any Additional Rent already paid by LESSEE on account of its obligation under Section 5.1 of this Lease for such calendar year. 5.4. Each LESSOR'S Expense Statement shall reconcile the payments made by Tenant is less than LESSEE pursuant to the amount preceding LESSOR'S Expense Statement with LESSEE'S Proportionate Share of LESSOR'S Operating Expenses for the period covered thereby. Any balance due by Tenant under this section, the accounting to LESSOR shall be accompanied paid by an invoice for the Operating Expenses LESSEE within thirty (30) days after LESSEE'S receipt of LESSOR'S Expense Statement; any surplus due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur LESSEE shall be prorated on applied by LESSOR against the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00next accruing monthly installment(s), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Able Laboratories Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rental Tenant’s pro rata share “Pro Rata Share” of the increase in the operating expenses defined below (“Operating Expenses (as hereinafter definedExpenses”) for over the Leased Premises. Base Year 2015 For purposes of this Leasecalculation, Tenant’s pro rata share of “Base Year 2015” means those Operating Expenses incurred between January 1, 2015 and December 31, 2015, except real estate taxes and special assessments shall be paid by Tenant mean those incurred in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)tax year 2014. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar yearmay, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four within six (46) months following the close of each calendar yearany lease year for which additional rental is due under this paragraph, Landlord invoice Tenant for Tenant’s Pro Rata Share of the Operating Expenses. The invoice shall provide Tenant an accounting showing include in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total additional rental, and Xxxxxx agrees to make payment of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable additional rental to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and Landlord within six thirty (630) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice and computations. In the year in which this Lease terminates, Landlord, in lieu of waiting until the close of the lease year in order to determine Operating Expenses, has the option to invoice Tenant for Tenant’s Pro Rata Share of the Operating Expenses based upon the previous year’s Operating Expenses and then bill or accounting showing Additional refund Tenant for any difference after close of the lease year in the manner described above; Landlord shall invoice Tenant under this option within thirty (30) days prior to the termination of this Lease or at any time thereafter. Landlord may at any time during the Term of this Lease increase the Monthly Rent dueto an amount which reflects Xxxxxx’s Pro Rata Share of the Operating Expenses based upon the previous year’s excess Operating Expenses after giving Tenant thirty (30) days’ notice. The Monthly Rent and any additional rental for Tenant’s Pro Rata Share of the excess Operating Expenses are collectively referred to in this Lease as the “Rent.

Appears in 1 contract

Samples: Sublease Agreement

Operating Expenses. Tenant agrees (a) Notwithstanding anything to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for contrary in the Leased Premises. For purposes of this Lease, Tenant’s pro rata share as amended hereby, effective as of Operating Expenses the Extended Term Commencement, Section 3(e) of the Lease shall be paid by of no further force and effect. Commencing on the Extended Term Commencement Date, Tenant shall pay Landlord in accordance with the proportion that the Rentable Area in the Leased Premises (as terms and conditions set forth hereinabove) bears to herein, throughout the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Extended Term, as additional rental, Tenant’s 's pro rata share of the estimated Operating Expenses for amount by which the amount of operating expenses (as defined in Section 3(f) of the Lease) with respect to any given calendar year exceed $0.15 per square foot. Prior to or promptly after the beginning of each calendar year during the Extended Term, Landlord shall estimate the total amount of operating expenses to be paid by Tenant during such calendar year, which amount and Tenant shall be adjusted pay to Landlord one-twelfth (1/12) of such sum on the first day of each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretioncalendar month during each such calendar year, or part thereof, during the Extended Term. Within four (4) months following a reasonable time after the close end of each calendar year, Landlord shall provide submit to Tenant an accounting showing a statement of the actual amount of operating expenses for such calendar year, and the actual amount owed by Tenant, and within thirty (30) days after receipt of such statement, Tenant shall pay any deficiency between the actual amount owed and the estimates paid during such calendar year, or in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds overpayment, Landlord shall either, at Landlord's option, credit the amount of Operating Expenses due such overpayment toward the next installment of operating expenses and/or Base Rental owed by Tenant under this sectionor refund such overpayment to Tenant; provided, however, any overage due Tenant during the accounting last year of the Extended Term shall be accompanied by a refundrefunded to Tenant. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.The obligations in

Appears in 1 contract

Samples: Lease Agreement (Marlton Technologies Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each once per year by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's next rental due. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall invoice Tenant for Tenant's pro rata share of the then current estimate for operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement Commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Within ninety (90) days of receipt of the operating expense reconciliation for the previous year, Tenant shall have the right to audit Landlord's books and records as they pertain to operating expenses for the immediate preceding calendar year, in Landlord's office and with reasonable notice. If Tenant does not provide notice to Landlord within ninety (90) days of its intent to audit, Tenant shall automatically waive and release its right to audit for the preceding calendar year. The cost of said audit shall be borne by Tenant unless the audit discloses that Tenant has overpaid its proportionate share of operating expenses for the calendar year in question by more than five percent (5%), in which case the reasonable expense of the audit shall be borne by Landlord. If the audit reveals that Landlord's actual statement was incorrect in any amount, the resulting excess or deficiency shall be paid by or reimbursed to Tenant as the case may be. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the net rentable area of the Premises as set forth and the denominator of which shall be the net rentable area of the completed portions of the building (i.e., the fifth floor will be excluded from this computation until completed), as the same may change from time to time.

Appears in 1 contract

Samples: Lease (Norstan Inc)

Operating Expenses. Tenant agrees Landlord shall determine or estimate th Operating Expenses for the calendar year in which the Occupancy Date occurs. Beginni of the amount estimated by Landlord to pay be Tenant's Percentage Share of Operating Expe Landlord, as Additional Rent, (except during on the applicable Free Rent Period) first day of each calendar month remaining in th estimate such increases to Tenant’s pro rata share 's Percentage Share of Operating Expenses as of the Tenant to pay one-twelfth (1/12) of such estimated amount as hereinafter defined) for Additional Rent hereunde month. In the Leased Premises. For purposes event that during the course of this Lease, Tenant’s pro rata share any calendar year Operating Expenses have i the amount of Operating Expenses shall estimated by Landlord at the commencement of that ca amount of the monthly estimated payments to be paid by Tenant in order to take into a from Landlord of any such increase, Tenant shall pay the proportion full amount of the recalcula remainder of the subject calendar year. In making the aforesaid recalculation, Landl Landlord for any increased Operating Expenses applicable to that portion of the Rentable Area subje of Landlord's notice. Not later than ninety (90) days following any calendar year (including the year fo terminates), Landlord shall furnish Tenant with a true and correct accounting of the in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each preceding calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in and within thirty (30) days of Landlord’s reasonable discretion. Within four (4) months following the close 's delivery of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment underpayment by Tenant of more than Tenant's Percentage Share of Operating Ex by Landlord to give such accounting shall not constitute a waiver by Landlord of its Operating Expenses or any underpayment by Tenant thereof. Landlord shall credit the greater next estimated installment(s) of (a) five percent (5%) Tenant's Percentage Share of Operating Expenses or or, terminated (b) Five Hundred and No/100 Dollars ($500.00other than due to a default by Tenant), Landlord shall pay for refund the reasonable cost amount of overpa obligation upon Tenant to demand such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duerefund from Landlord.

Appears in 1 contract

Samples: Lease Agreement (Avanex Corp)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $ 2000 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Notwithstanding anything to the contrary herein, Lessor's right to recover increases in controllable expenses being expenses other than taxes, insurance, and utilities shall be limited to five percent (5%) per annum on a cumulative basis. There shall be no limitation on taxes, insurance, and utilities.

Appears in 1 contract

Samples: Commercial Lease (Allstar Systems Inc)

Operating Expenses. Escalation is intended to assure that Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) pays for Tenant’s pro rata 's share of Operating Expenses all inflationary-type increases in the costs of operating and maintaining the Premises, building(s) and common areas over the costs of the Base Year (as hereinafter defined) for the Leased Premises). For purposes of Operating Expenses Escalation, "Base Year" means calendar year 1996. In addition to the Base Rent, Tenant shall pay the Operating Expenses Escalation (beginning January 1997 as more fully described herein). In Landlord's and Tenant's mutual and reasonable discretion, Operating Expenses for the Base Year shall be adjusted, as necessary, to a level of 95% occupied Landlord's building(s) in Draper Park North at cost levels for an entire year. This adjustment xxxxx include: (a) when building systems are under warranty during the Base Year, an adjustment for the cost of service contracts and other expenses that would have been incurred in the absence of such warranties; (b) an adjustment for all other expenses that are not incurred if the Building is new and start-up discounts or similar savings have been achieved; and (c) adjustments for all other atypical costs that occur or do not occur during the Base Year other than those costs which would occur in the Base Year in the ordinary course of business. The purpose of these adjustments is to include in the Operating Expenses for the Base Year all reasonable cost components that occur or are likely to occur in later years. If at any time during the Lease Term, less than 95% of the rentable sq. ft. of the building(s) is occupied by tenants, the Operating Expenses for such calendar year shall be reasonably determined to be an amount equal to the expenses that would normally be expected to be incurred if such occupancy had been 95% of the total rentable sq. ft. of the building(s). The only expenses which shall be adjusted in this Leasemanner shall be variable expenses, Tenant’s pro rata share otherwise includable as Operating Expenses, where the amount is directly related to the level of occupancy or square foot area receiving a particular service. If a new category of Operating Expenses is incurred after the Base Year, the first full year's expense for such items shall be added to the Operating Costs for the Base Year commencing with the first full calendar year that such expense is incurred, so that Tenant shall only be required to pay subsequent increases in such expense. The expense incurred for such items during the first year shall be subject to the adjustments described in the immediately preceding paragraphs of this sub-section. For the first full calendar year following the Base Year, the Operating Expenses Escalation shall be billed as a one-time charge at the close of the year and shall be paid by Tenant in within sixty (60) days after receipt of the proportion that bill. For the Rentable Area in second full calendar year following the Leased Premises Base Year, and xxx subsequent full or partial calendar years during the Lease, Tenant shall pay Landlord each month, on account as Base Rent, an amount equal to one twelfth (as set forth hereinabove1/12) bears to of the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent prior year's Operating Expenses Escalation, less any non-recurring expenses (100%hereinafter "Operating Expenses Escalation Paid on Account"). Landlord may invoice shall provide Tenant monthly with a bill for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following Escalation after the close of each calendar caxxxxar year. Tenant shall, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total within thirty (30) days of the monthly payments made by Tenant exceeds Tenant's receipt of such bill, pay Landlord the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for difference between the Operating Expenses Escaxxxxon Paid On Account and the final amount due as Additional Rentset forth in such bill. If this Lease shall terminate on a day other than for any calendar year the last day of a calendar yearOperating Expenses Escalation Paid xx Account exceeds the actual Operating Expenses Escalation, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur excess shall be prorated on the ratio that the number of days from the commencement treated as a prepayment of the calendar year to next due installment of Base Rent and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueEscalation Paid on Account.

Appears in 1 contract

Samples: Commercial Lease (Advanta Corp)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except a) For each Calendar Year (or portion thereof) during the applicable Free Term, in addition to the other Rent Period) Tenant’s pro rata share of Operating Expenses due hereunder, Lessee shall pay the amount by which Basic Costs (as hereinafter defined) exceed the Initial Basic Costs Amount set forth in Section 1(g) ("Basic Costs Excess"). Such payments of Basic Costs Excess shall be made as follows: (i) Prior to the Commencement Date and before the beginning of each Calendar Year (or portion thereof) thereafter during the Term, Lessor shall furnish Lessee with Lessor's estimate of Basic Costs Excess for such Calendar Year. On or before the first day of each month during such Calendar Year, in addition to other Rent due hereunder at such time, Lessee shall pay a monthly installment equal to 1/12 of the estimated Basic Costs Excess for such Calendar Year. Lessor shall have the right to adjust such estimated Basic Costs Excess before the beginning of each calendar quarter and 1/12 of such adjusted estimated Basic Costs Excess shall be payable on the first day of each month thereafter during such Calendar Year. (ii) Within 150 days after the conclusion of each Calendar Year during Lessee's occupancy, or as soon thereafter as practicable, Lessor shall furnish to Lessee a statement of actual Basic Costs for the Leased Premisesprevious Calendar Year (or fraction thereof if the Commencement Date occurred after the first day of the previous Calendar Year). For purposes A lump sum payment (which payment shall be considered a payment of Rent for all purposes) will be made by Lessee, within 30 days of the delivery of that statement, equal to the excess, if any, of the actual Basic Costs over the aggregate amount paid by Lessee hereunder for Basic Costs Excess for such Calendar Year. If the amount of the actual Basic Costs is less than the aggregate amount actually paid by Lessee hereunder for Basic Costs Excess for such Calendar Year, Lessor shall (provided Lessee is not in default hereunder) at Lessor's election either refund such difference (the "Basic Costs Overage") to the Lessee within 30 days of the issuance of that statement, or apply such Basic Costs Overage to the next accruing installments of Rent due hereunder. The effect of this Leasereconciliation payment or adjustment shall be that Lessee will pay with respect to each Calendar Year (or portion thereof) during the Term, Tenant’s pro rata share in addition to the other Rent due hereunder, the amount by which Basic Costs exceeds the Initial Basic Costs Amount. (b) As used herein "Basic Costs" means: (i) Lessee's Proportionate Share of all Operating Expenses (as defined below), which costs shall include all expenditures by Lessor to maintain all facilities in operation at the beginning of the Term and such additional facilities in subsequent years as Lessor may consider necessary or beneficial for the operation of the Project; and (ii) an amount equal to Lessee's Proportionate Share of the management fee paid by Lessor with respect to the Project. All Operating Expenses shall be paid by Tenant determined according to generally accepted accrual accounting principles which shall be consistently applied. "Operating Expenses" as used herein means all reasonable expenses, costs, and disbursements of every kind which Lessor shall pay or incur in connection with the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A ownership, operation and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share maintenance of the estimated Operating Expenses for each calendar yearProject, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionincluding without limitation, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.following:

Appears in 1 contract

Samples: Lease Agreement (Design Automation Systems Inc)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except during a) During the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes term of this Lease, Tenant shall pay as additional rent an amount (per each square foot within the Premises) equal to the excess ("Excess") from time to time of the per square foot Basic Cost (which shall be calculated by dividing the Basic Cost by the total rentable square feet in the Building) over the Base Year Stop. Beginning with the first day of the thirteenth month of the Lease Term following the Commencement Date, and on each January 1 thereafter, Landlord shall make a good faith estimate of the Excess for each upcoming calendar year and Tenant shall pay monthly additional rent equal to one-twelfth (1/12) of such estimate. (b) By May 1 of each calendar year during Tenant’s pro rata 's occupancy and the calendar year following termination of this Lease, or as soon thereafter as practical, Landlord shall furnish to Tenant a detailed statement certified as correct by a certified public accountant or officer of Landlord's managing agent of Landlord's actual Basic Cost for the previous year. If for any calendar year additional rent collected for the prior year as a result of Landlord's estimate of Basic Cost is (i) in excess of the additional rent actually due during such prior year, then Landlord shall either credit such overpayment towards Tenant's estimated share of Operating Expenses operating expenses for the next year or refund to Tenant any overpayment, or (ii) less than the additional rent actually due during such prior year, then Tenant shall pay to Landlord, on demand, any underpayment with respect to the prior year. (c) Each statement furnished by Landlord to Tenant shall be paid conclusive and binding upon Tenant unless, within ninety (90) days after receipt of such statement, Tenant delivers to Landlord a written notice specifying the particular details for which such statement is claimed to be incorrect. Pending the determination of such dispute, Tenant shall pay without delay the full amount of the additional rent payable by Tenant in the proportion accordance with each such statement that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than disputing. Without limiting the amount of Operating Expenses due by Tenant under this sectionpreceding sentence, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar yearTenant, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant or its authorized agent, shall have the right, at its own expense during Landlord's normal business hours and within six (6) months after Tenant receives the accounting described abovereasonable notice, to audit Landlord’s inspect/audit, the books relevant and records of Landlord applicable to the Additional Rent determination of any statement of any additional rent payable under this section upon reasonable notice by Tenant for the purpose of verifying in good faith the information contained in such statement for a period of up to Landlordone year after the receipt of such statement by Tenant, but not more than once each calendar year; however, if by a certified public accountant. If the audit correctly discloses an overpayment determines that the statement overstates the amount due by Tenant of more than the greater of (a) by five percent (5%) of Operating Expenses or more, (bi) Five Hundred and No/100 Dollars Landlord shall refund any overpayment revealed by Tenant's audit; ($500.00), ii) Landlord shall pay the reasonable costs of the audit; provided, however, that Landlord shall have the right to dispute the findings of the audit and to obtain a reimbursement from Tenant for the costs associated thereto if it is later determined that the audit was in error to the Landlord's detriment; and (iii) Tenant shall then have the right to audit previous year's statements. (d) Should Tenant require any additional work or service, including but not limited to heating, ventilation and air conditioning ("HVAC") furnished outside Landlord's normal operating hours of 8:00 a.m. to 6:00 p.m., Monday through Friday, 9:00 a.m. to 1:00 p.m., Saturday, excluding Christmas, New Year's Day, Fourth of July, Memorial Day, Labor Day, and Thanksgiving Day, Landlord may, upon reasonable advance notice by Tenant, furnish such additional services at a charge not more than Landlord's actual cost, plus reasonable overhead for the additional services provided, it being agreed that the cost to the Landlord of such additional services shall not be considered or treated as Basic Cost. (e) Landlord may, at any time in its sole discretion, require separate metering for gas, electric power or for any other utility service required by Tenant if such service is reasonably deemed by Landlord to be in excess of Building standard usage, in which case the cost of such auditmetering shall be at Tenant's sole cost and expense, due and payable upon demand by Landlord, and in which event Tenant shall pay for all such utility service in excess of its normal and customary usage, as metered. Tenant agrees For any utility services that are separately metered as prescribed herein the amount of said services which had been included in the calculation of the Base Year Stop or the calculation of Basic Cost shall be excluded therefrom. (f) Notwithstanding any expiration or termination of this Lease prior to keep the results end of any audit strictly confidential and the Lease Term, Tenant's obligations to pay any Additional Rent due and all additional rent pursuant to this Lease shall continue and shall cover all periods up to the expiration or termination date of this Lease. Tenant's obligation to pay any and all additional rent or other sums owing by Tenant to Landlord under this section within ten days following receipt lease shall survive any expiration or termination of the invoice or accounting showing Additional Rent duethis Lease.

Appears in 1 contract

Samples: Lease Agreement (Filetek Inc)

Operating Expenses. Operating Expenses shall be defined as the sum of (i) Operating Costs, as defined in Article V, Section 1 of the Prime Lease, (ii) Real Estate Taxes, as defined in Article V, Section 4 of the Prime Lease, and (iii) the costs of Sublandlord's Maintenance Obligations, as defined in Section 10 hereof. If, with respect to any calendar year during the Sublease Term after the Operating Expenses Base Year (which shall be defined as calendar year 1995); the aggregate amount of Operating Expenses exceeds the Operating Expenses for the Operating Expenses Base Year; Tenant agrees shall pay to pay Landlord, as Additional Rent, the entire amount of such excess. Tenant's obligation under this Section 4(b) shall be prorated for partial calendar years at the beginning or end of the Term. After the end of each calendar year included in the Sublease Term, Sublandlord shall send Subtenant a statement showing Operating Expenses (except during i) for the applicable Free Rent Periodcalendar year just ended ("Actual Expenses"), which statement shall be based in part upon information supplied by Sublandlord, and (ii) Tenant’s pro rata share an estimate of Operating Expenses (as hereinafter defined) for the Leased Premisesthen-current calendar year ("Estimated Expenses"). For purposes Subtenant shall pay Sublandlord on the first day of this Leaseeach month, Tenant’s pro rata share in advance, as Additional Rent, an amount equal to 1/12th of the amount, if any, by which the Estimated Expenses for the then current calendar year exceed the Operating Expenses for the Operating Expenses Base Year. Such payments shall not bear interest and may be commingled by Sublandlord with any other funds of Sublandlord. If the total amount paid by Subtenant in accordance with (ii) above on account of Operating Expenses shall be paid by Tenant in for any calendar year during the proportion that Sublease Term (i) exceeds the Rentable Area in amount due therefor as shown on Sublandlord's statement delivered after the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that end of such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount such excess shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of credited against the monthly payments made by Tenant exceeds installments of Additional Rent next due (or refunded to Subtenant if the amount of Operating Expenses due by Tenant under this sectionSublease Term has expired), the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant or (ii) is less than the amount due therefor as shown on Sublandlord's statement delivered after the end of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a such calendar year, then Subtenant shall pay the amount difference to Sublandlord within 30 days after receipt of any Additional Rent payable by Tenant applicable such statement from Sublandlord. Subtenant's rights and obligations under this Section 4(b) with respect to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the last calendar year to and including (or portion thereof) included in the Expiration Date bears to 365. Tenant Sublease Term shall have survive the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under expiration or termination of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueSublease.

Appears in 1 contract

Samples: Sublease (Microsoft Corp)

Operating Expenses. (a) Commencing January 1, 2006, Tenant agrees to shall pay Landlord as Additional Rent, Rent throughout the Term 2.09% (except during "Tenant's Share") of the applicable Free Rent Period) Tenant’s pro rata share of amount by which annual Total Operating Expenses (as hereinafter defineddefined below) incurred by Landlord during each calendar year exceed Total Operating Expenses for calendar Base Year 2005 ("Base Operating Expenses"). Tenant's Share is equal to the Leased Premises. For purposes proportion that the rentable square foot area of this Leasethe Premises bears to the total usable square foot office area of the Building, deemed to be 244,072 square feet. (b) Tenant’s pro rata share 's Share of annual Operating Expenses shall be paid in monthly installments on the first day of each month, in advance, in an amount estimated by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears Landlord and subject to adjustment from time to time. Subsequent to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close end of each calendar year, Landlord shall provide furnish Tenant an accounting showing in reasonable detail all computations with a statement of the actual amount of Tenant's share of Total Operating Expenses due under this section includingfor the period. In the event the accounting shows that If the total of the monthly payments made amount paid by Tenant exceeds for any year shall be less than the actual amount due from Tenant as shown on the statement, Tenant shall pay Landlord the deficiency within ten (10) days after the furnishing of Operating Expenses such statement. If the total amount paid by Tenant shall exceed the actual amount due by from Tenant for such year, the excess shall be credited against the next installment due from Tenant under this section, the accounting or, if it shall be accompanied by a refund. In for the event the accounting shows that the total last calendar year of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this sectionterm, then, the accounting excess shall be accompanied by an invoice returned with Landlord's statement for such calendar year. Should the Operating Expenses due as Additional Rent. If this Lease shall terminate Term commence or end on a day other than the last first day of a calendar year, then the amount of any Additional Rent payable by Tenant applicable to Operating Expense charge for the partial year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueequitably prorated.

Appears in 1 contract

Samples: Lease (World Energy Solutions, Inc.)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4nine(9) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur occur, shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit355. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Commercial Lease (Thermoview Industries Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may shall invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four three (43) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account or accompanied by a check from Landlord for such excess for the last calendar year of this Lease. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article I and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Standard Commercial Lease (Research Inc /Mn/)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $ Base Year 1997 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described aboveexpense, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice section. Lessee agrees to Landlordpay any additional rent due under this section. With respect to such audit, but not more than once each calendar year; howeverLessee 1) may review Lessor's books during office hours, if 2) must perform such audit at the location of Lessor's books, 3) must request such audit correctly discloses an overpayment by Tenant within thirty (30) days of more than receipt of it's annual reconciliation of operating expenses, 4) must deliver to Lessor a copy of the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost results of such audit, 5) may not audit the same calendar year more than one time and 6) may only audit Lessor's books should Lessee's share of excess operating expenses increase from the previous calendar year. Tenant Assignees of Lessee may only audit periods for which they occupy the leased premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Techdyne Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of 1997 BASE YEAR per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for such excess operating expenses. However, notwithstanding any provision to the Leased Premises. For purposes of contrary in this Lease, Tenant’s pro rata Lessee's prorata share of Operating Expenses such operating expenses other than taxes, insurance and utilities shall be paid not increase by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred more than seven percent (1007%)) per year over the base year during the term of the Lease or any renewal thereof. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expense. Within four (4) three months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows show that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date their termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described aboveduring normal business hours, to audit Landlord’s and photocopy Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Teraforce Technology Corp)

Operating Expenses. Tenant Pursuant to Section 6 of the Original Lease, as amended by Section 8 of the First Amendment, in addition to the Base Rent Subtenant shall be obligated to pay its proportionate share of any Net Operating Expenses; provided, however, that for purposes of determining Subtenant’s share of such expenses “Base Year” shall be the 2020 calendar year such that Subtenant shall only be responsible for increases above the actual Net Operating Expenses incurred during the 2020 calendar year. Sublandlord agrees to pay as Additional Rent, (except provide timely notice to Subtenant of the estimated Net Operating Expenses for any year during the applicable Free Rent Period) TenantSublease Term as furnished by Master Landlord in accordance with Section 6.4 of the Original Lease. Any amounts due by Subtenant under this Section 5 will be due and payable to Sublandlord on the first of each month. During the Sublease Term, upon the receipt of a Reconciliation Statement pursuant to Section 6.5 of the Original Lease, Sublandlord shall provide to Subtenant written notice of the amount of any over- or under-payment with respect to Subtenant’s pro rata share of Net Operating Expenses. In the event of an underpayment, Subtenant shall pay Sublandlord for any deficiency within thirty (30) calendar days after receipt of such notice. In the event of an overpayment, Subtenant shall be entitled to offset the excess against the next payment(s) due to Sublandlord on account of Subtenant’s share of Net Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses or such excess amounts shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears Sublandlord to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share Subtenant if no further payments of the estimated Net Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent are due.

Appears in 1 contract

Samples: Sublease Agreement

Operating Expenses. Tenant agrees During the Sublease Term, Subtenant shall pay to pay as Additional RentSublandlord, (except with respect to any Operating Year or portion thereof during the applicable Free Rent Period) TenantSublease Term, an amount equal to 78.50% of Sublandlord’s pro rata Operating Expense Share for the Master Premises for such Operating Year or portion thereof. Subtenant shall make estimated payments on account of Subtenant’s share of Sublandlord’s Operating Expenses (Expense Share as hereinafter defined) reasonably estimated by Sublandlord. Such payments shall be made in the fashion herein provided for the Leased Premisespayment of Base Rent. For purposes The estimated payments on account of this Lease, TenantSubtenant’s pro rata share of Sublandlord’s Operating Expenses Expense Share shall be sufficient to provide Sublandlord, by the end of each year, a sum equal to Subtenant’s required payments for such year. Within a reasonable time after Sublandlord receives Master Landlord’s year-end statement of Sublandlord’s Operating Expense Share for the immediately preceding Operating Year, Sublandlord shall give Subtenant a notice of the amounts actually paid by Tenant in Sublandlord for such year. If the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share sum of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments already made by Tenant exceeds Subtenant for such preceding Operating Year exceed Subtenant’s actual required payment, as reflected on Sublandlord’s notice, Sublandlord shall credit the amount of Operating Expenses due by Tenant under this sectionoverpayment against subsequent obligations of Subtenant with respect to Base Rent, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or Taxes (bor refund such overpayment if the Sublease Term has ended and Subtenant has no further obligation to Sublandlord); but if Subtenant’s required payments for such preceding year are greater than the estimated payments (if any) Five Hundred and No/100 Dollars ($500.00)theretofore made on account thereof for such year, Landlord Subtenant shall pay for to Sublandlord the reasonable cost amount necessary within ten (10) days after receipt of such auditnotice. Tenant agrees to keep All obligations set forth herein shall survive the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt termination or expiration of the invoice or accounting showing Additional Rent dueSublease Term.

Appears in 1 contract

Samples: Sublease Agreement (Catabasis Pharmaceuticals Inc)

Operating Expenses. Tenant agrees shall pay from time to pay time an amount (the “Excess”) calculated by multiplying (a) the amount by which the Basic Cost (defined below), divided by the Total Rentable Square Feet, exceeds 2006 Base Year Stop (the “Expense Stop”), by (b) the Rentable Square Feet. The Excess may be calculated and collected annually in arrears on a calendar year basis and, in such event, shall be due within thirty (30) days after Landlord furnishes to Tenant a written statement (the “Annual Operating Statement”) reflecting the Basic Cost for the calendar year (as Additional Rentmay be adjusted as provided herein) and calculating the Excess, (except during if any. Said statement shall be furnished by April 1 immediately following the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount or as soon thereafter as practicable. Alternatively, Excess may be estimated and collected monthly and then reconciled against Basic Costs at calendar year end. In such event, Landlord shall be adjusted each make and notify Tenant of its good faith estimate of the Excess for the applicable calendar year based upon anticipated Operating Expenses determined (or part thereof), whereafter, Tenant shall pay to Landlord, in Landlord’s reasonable discretion. Within four (4) months following advance on the close first day of each calendar month of such year (or part thereof), an amount equal to the estimated Excess divided by 12 (or such lesser number of months as applicable). From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may re-estimate the event the accounting shows Excess for that the total of calendar year and the monthly payments made by Tenant exceeds the amount installments of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on adjusted accordingly so that, by the ratio that the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid the right, at its own expense full Excess as estimated by Landlord for such year. The Basic Cost (other than the first year in which the Building is occupied) and within six (6) months after Tenant receives Expense Stop shall be prorated for any portion of the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more Term which is less than once each a full calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Realpage Inc)

Operating Expenses. 2.3.1.1 Tenant agrees shall pay an amount (per each rentable square foot in the Premises) equal to pay the excess (“Excess”) from time to time of actual Operating Expenses per rentable square foot in the Building over the respective expense stops for Real Property Taxes, Utilities, and Common Area Expenses (collectively the “Expense Stops”) as Additional Rentdefined hereafter: Real Property Taxes: Greater of $2.25 per rentable square foot or the actual taxes for 2003 as finally determined. Utilities: $2.40 per rentable square foot Common Area Expenses: Actual Common Area Expenses in calendar year 2003 Landlord may collect such amount in a lump sum, (except to be due within 30 days after Landlord furnishes to Tenant the Annual Cost Statement. Alternatively, Landlord may make a good faith estimate of the Excess to be due by Tenant for any calendar year or part thereof during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this LeaseTerm, Tenant’s pro rata share of Operating Expenses shall be paid by and, unless Landlord delivers to Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share a revision of the estimated Operating Expenses for Excess, Tenant shall pay to Landlord, on the Commencement Date and on the first day of each calendar yearmonth thereafter, which an amount shall be adjusted each equal to the estimated Excess for such calendar year based upon anticipated Operating Expenses determined or part thereof divided by the number of months in Landlord’s reasonable discretionsuch calendar year during the Term. Within four (4) months following the close of each From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may estimate and re-estimate the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Excess to be due by Tenant under this sectionfor that calendar year and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the accounting shall be accompanied by a refund. In the event the accounting shows that the total monthly installments of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on appropriately adjusted in accordance with the ratio that estimations so that, by the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid all of the right, at its own expense and within six (6) months after Tenant receives the accounting described above, Excess as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to audit Landlord’s books relevant adjustment pursuant to the Additional Rent payable under Section 2.3.1.4 of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Lease when actual Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay are available for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueeach year.

Appears in 1 contract

Samples: Sublease Agreement (Legalzoom Com Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.9 shall be equal to a percentage based upon a fraction, the numerator of which is the net rentable area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease Agreement (Bio Vascular Inc)

Operating Expenses. Tenant Lessee agrees to pay pay, as Additional Rentadditional rent, (except during the applicable Free Rent Period) Tenant’s Lessee's pro rata share (as determined by the formula set forth in Section 2.02 above) of Lessor's Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes Building without deduction or set-off of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (any kind except as otherwise set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)herein. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time based upon anticipated Operating Expenses. As of the date hereof, it is estimated that the Operating Expenses, taxes and insurance for calendar year 2000 will be approximately $2.20 per rentable square foot. Lessor agrees that the Lessee's portion of the Operating Expenses determined in Landlord’s reasonable discretionfor common area maintenance, less costs of utilities, costs required to meet applicable laws, and capitalized costs of capital improvements and operating efficiency devices, will not exceed seventy-eight cents ($78) per rentable square foot during the first year of the Term (the "Base Amount"), and will not increase for any year by more than five percent (5%) per year (cumulative) over the Base Amount. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting such amount shall be accompanied by a refundcredited against the next required payment of base rent. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Provided Lessee is not in default of any terms of this Lease, Lessee shall have the right, at its own expense and expense, to audit Lessor's books relevant to the additional rent payable under this Section. With respect to such audit, Lessee 1) may review Lessor's books during office hours, 2) must perform such audit at the location of Lessor's books, 3) must request such audit within six (6) months after Tenant receives of receipt of its annual reconciliation of Operating Expenses, 4) must deliver to Lessor a copy of the accounting described aboveresults of such audit, to 5) may not audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not same calendar year more than once each calendar year; howeverone time. If, if as a result of such audit, it is determined that the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses have been overstated by 3% or (b) Five Hundred and No/100 Dollars ($500.00)more, Landlord Lessor shall pay be required to reimburse Lessee for the reasonable cost costs of such audit. Tenant Assignees of Lessee may only audit periods for which they occupy the Leased Premises and subtenants of Lessee shall have no audit rights. Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Globalscape Inc)

Operating Expenses. Tenant agrees to a. Lessee shall pay as Additional RentOperating Expenses the amount of $1.43 per square foot of floor area in the Premises for a total of $3,189.26 per month representing Leasee's estimated monthly prorata shares of annual real property taxes and assessment, premiums for liability and perils Insurance in amounts and coverages deemed appropriate by Lessor, landscape maintenance and other common area expenses typically incurred by single day shall be one-thirtieth (except during the applicable Free Rent Period1/30th) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for Expenses. b. As of the Leased Premises. For purposes Commencement Date of this Lease, Tenant’s pro rata share of Lessor has estimated Lessee's Operating Expenses for the balance of the current calendar year. Lessee shall pay Lessee's Operating Expenses. In advance, along with the payment of Monthly Base Rent, Lessee shall continue to make said monthly payments until notified by Lessor of a change. By April 1 of each year (or such later date as may be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%practicable). Landlord may invoice Tenant monthly Lessor shall give Lessee a statement showing the expenses enumerated above for Tenant’s pro rata share the previous year (or part year as applicable) upon which Lessee's Operating Expenses amount is based, and the calculation of Lessee's Operating Expenses. At the same time Lessor shall provide Lessee with a calculation of Lessee's estimated Operating Expenses for each calendar the current year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, which Lessee has made for the accounting prior calendar year shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the Lessee's actual share of the expenses upon which Operating Expenses amount is based, then Lessee shall pay the difference in a lump sum within thirty (30) days after receipt of such statement. Any overpayment by Lessee shall first be credited toward the next installment of Operating Expenses due by Tenant under and then credited toward the next installment of Monthly Base Rent. Even though the Term of this sectionLease may have expired and Lessee may have vacated the Premises, when the accounting shall be accompanied by an invoice for the final determination is made of Lessee's share of Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to for the year in which such termination this Lease terminates, Lessee shall occur timely pay any balance due over the estimated Operating Expenses previously paid and, conversely, any overpayment made shall be prorated on the ratio that the number of days from the commencement of the calendar year refunded by Lessor to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLessee.

Appears in 1 contract

Samples: Lease Agreement (Scope Metals Group Ltd.)

Operating Expenses. Tenant agrees to shall also pay as Additional Rentadditional rent commencing on the Commencement Date, (except during the applicable Free Rent Period) Tenant’s Xxxxxx's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes Building and/or project of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in which the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Xxxxxx's account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date Including such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Xxxxxx agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1, subject to adjustment as provided in this Lease, and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Xata Corp /Mn/)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are in part shall, in any calendar year during the term of this Lease, exceed the sum of $*1.30 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may Lessor nay invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based band upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, section the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.. *OR BASE YEAR 1996, WHICHEVER IS HIGHER

Appears in 1 contract

Samples: Standard Commercial Lease (Industrial Data Systems Corp)

Operating Expenses. (a) During the term of this Lease, Tenant agrees shall pay to pay Landlord, as Additional Monthly Rent, (except during the applicable Free Rent Period) Tenant’s pro rata 's percentage share of all Operating Expenses (as hereinafter defined) for paid or incurred by Landlord during the Leased Premises. For purposes term of this Lease, . Tenant’s pro rata 's percentage share of Operating Expenses shall be paid by Tenant a fraction (expressed as a percentage) the numerator of which is the total number of square feet in the proportion that Premises and the Rentable Area denominator of which is the total number of square feet in the Leased Premises Building (as set forth hereinabove) bears both subject to the total Rentable Area in Unit A and adjustment, from time to time, to reflect Landlord's calculation of load factors). Landlord and Tenant agree that such pro rata Tenant's percentage share (subject to adjustment as provided above) shall equal one hundred be One and Seventy-Four hundredths percent (1001.74%). The Additional Monthly Rent payable by Tenant pursuant to this Paragraph 34(a) shall be calculated and paid in accordance with the following procedures: (1) On or before the Commencement Date, or as soon thereafter as practicable, and on or before the first day each subsequent calendar year during the term of this Lease, or as soon thereafter as practicable, Landlord may invoice shall give Tenant monthly for Tenant’s pro rata share written notice of Landlord's estimate of the estimated Operating Expenses amount payable under this Paragraph 34(a) for each the balance of the first calendar year after the Commencement Date or for the ensuing calendar year, which as the case may be. Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance on or before the Commencement Date and on or before the first day of each month during such balance of the first calendar year after the Commencement Date or during each ensuing calendar year, as the case may be. If such notice is not given for any calendar year, Tenant shall continue to pay on the basis of the prior year's estimate until the month after such notice is given, and subsequent payments by Tenant shall be adjusted each based on Landlord's current estimate. If at any time it appears to Landlord that the amount payable under this Paragraph 34 (a) for the current calendar year will vary from Landlord's estimate, Landlord may, by giving written notice to Tenant, revise Landlord's estimate for such year, and subsequent payments by Tenant for such year shall be based upon anticipated Operating Expenses determined in Landlord’s on such revised estimate. (2) Within a reasonable discretion. Within four (4) months following time after the close end of each calendar year, Landlord shall provide give Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total a written statement of the monthly payments made by Tenant exceeds the amount of Operating Expenses due payable by Tenant under this section, the accounting shall be accompanied Paragraph 34(a) for such calendar year certified by a refundLandlord. In the event the accounting If such statement shows that the total of the monthly payments made an amount owing by Tenant that is less than the estimated payments for such calendar year previously made by Tenant, Landlord shall credit the excess to the next succeeding monthly installments of the amount of Operating Expenses due payable by Tenant under this sectionParagraph 34(a). If such statement shows an amount owing by Tenant that is more than the estimated payments for such calendar year previously made by Tenant, Tenant shall pay the accounting deficiency to Landlord `within ten (10) days after delivery of such statement. Tenant or Tenant's authorized agent or representative shall be accompanied by an invoice have the right to inspect at any time within ninety (90) days after delivery of such statement the books of Landlord relating to Operating Expenses for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a relevant calendar year, after giving reasonable prior written notice to Landlord and during the business hours of Landlord at Landlord's office in the Building or at such other location as Landlord may designate, for the purpose of verifying the information in such statement. Failure by Landlord to give any notice or statement to Tenant under this Paragraph 34 shall not waive Landlord's right to receive, or Tenant's obligation to pay, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00Paragraph 34(a), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Office Lease (Bridge Capital Holdings)

Operating Expenses. Tenant agrees All capitalized terms used in this Section shall have the meanings ascribed to them in Paragraph 4.1(b), above. (a) If the Operating Expenses incurred or paid by Lessor for any Expense Comparison Year during the Lease Term are greater than the Operating Expenses incurred or paid by Lessor for the Expense Base Year, then Lessee shall pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid an amount equal to such increase multiplied by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section includingXxxxxx's Proportionate Share. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to partial Expense Comparison Year, Lessee shall pay the year in which such termination shall occur shall be prorated increase, if any, based on the ratio that the number of days of the Expense Comparison Year included within the Lease Term. (b) By April 1st of each Expense Comparison Year, Lessor shall provide Lessee a statement of Xxxxxx's best estimate of Xxxxxx's share of any increase in Operating Expense for such Expense Comparison Year over the costs for the Expense Base Year. Beginning with the next regular Base Monthly Rent payment, Lessee shall pay 1/12th of the increase multiplied by the number of elapsed months from the commencement of the Expense Comparison Year and thereafter shall continue to pay 1/12th of the increase each month until Xxxxxx receives the next Expense Comparison Year's statement. By April 1st following each Expense Comparison Year, Lessor shall provide Lessee a statement showing the total actual Operating Expenses for the calendar year just ended, and Xxxxxx's share of any increase over the Expense Base Year. If Xxxxxx's estimates paid to and including date for the Expiration Date bears preceding calendar year are less than Xxxxxx's share of the increase, Lessee shall pay the difference concurrently with the next payment of Base Monthly Rent. In the event that Lessee has paid more than its share of estimates for the preceding calendar year, Lessor shall credit such overpayment towards Xxxxxx's future Operating Expense obligations. Failure of Lessor to 365. Tenant furnish a statement of actual or estimated Operating Expenses shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, not constitute a waiver of Lessor's right to audit Landlord’s books relevant collect from Lessee any amounts payable with respect to the Additional increase in Operating Expenses. (c) Lessee shall not be entitled to any reduction, refund, offset, allowance or rebate in Base Monthly Rent payable under this section upon reasonable notice to Landlord, but not more or any other rent due hereunder if the operating Expenses for any Expense Comparison Year are less than once each calendar year; howeverthose of the Expense Base Year. In addition, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of for any reason Lessor does not elect to bill Lessee for Operating Expenses Expense increases or (b) Five Hundred and No/100 Dollars ($500.00)estimates for a particular Expense Comparison Year, Landlord shall pay Xxxxxx's right to charge Lessee for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueexpenses in subsequent years is not waived.

Appears in 1 contract

Samples: Lease Agreement (Intest Corp)

Operating Expenses. Tenant agrees Commencing on February 1, 1999 and continuing to February 28, 1999, Sublessee shall pay CarrAmerica Realty Corporation $12,738.38 as Additional monthly operating expenses. For the period March 1, 1999 and continuing to Marcx 00, 0000, Xxxxxxxxx xxxll pay Sublessor $12,738.38, as monthly operating expenses Commencing on April 1, 1999, and continuing on the first day of each calendar month with monthly payments of Base Rent, (except during Sublessee shall pay to Sublessor, as additional rent hereunder, an amount equal to the applicable Free Rent Period) Tenant’s pro rata share Sublessee's Pro Rata Share of Building Operating Expenses (as hereinafter defined) for payable under the Leased Premises. For purposes of this Master Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such based on rentable square feet. Sublessee's pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata be calculated by Sublessor based upon Lessor's estimate of Sublessor's share of Pro Rata Share of Building Operating Expenses as furnished to Sublessor under the estimated Master Lease. Sublessor estimates, based on information provided by Lessor, that Sublessee's Pro Rata Share of the Building Operating Expenses for each calendar year1999 will be approximately $3.98 per square foot, or $5,125.21 per month, exclusive of direct janitorial services which amount are to be arranged and paid directly by the Sublessee and Sublessor for their respective Premises. As and when adjustments between estimated and actual Building Operating Expenses are made by Lessor under the Master Lease, the obligations of Sublessor and Sublessee hereunder shall be adjusted each year based upon anticipated in a like manner. If any such adjustment shall occur after the expiration or earlier termination of the Term, then the obligations of Sublessor and Sublessee shall survive such expiration or termination. Sublessor shall furnish Sublessee with copies of all statements submitted by Lessor of actual or estimated Building Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following during the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueTerm.

Appears in 1 contract

Samples: Sublease (Concur Technologies Inc)

Operating Expenses. Tenant agrees to shall pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share Pro Rata Share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionduring the Term. Within four (4) months following the close On or about January 1 of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations with a good faith estimate of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentfor such calendar year during the Term. On or before the first day of each month, Tenant shall pay to Landlord a monthly installment equal to one-twelfth of Tenant’s Pro Rata Share of Landlord’s estimate of the Operating Expenses. If this Lease Landlord determines that its good faith estimate of the Operating Expenses was incorrect, Landlord may provide Tenant with a revised estimate. After its receipt, of the revised estimate, Tenant’s monthly payments shall terminate on a day other than be based upon the last day revised estimate. If Landlord does not provide Tenant with an estimate of the Operating Expenses by January 1 of a calendar year, Tenant shall continue to pay monthly installments based on the most recent estimate(s) until Landlord provides Tenant with the new estimate. Upon delivery of the new estimate, an adjustment shall be made for any month for which Tenant paid monthly installments based on the same year’s prior incorrect estimate(s). Tenant shall pay Landlord the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of underpayment within 30 days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice new estimate. Any overpayment shall be credited against the next sums due and owing by Tenant or, if no further Rent is due, refunded directly to Tenant within 30 days of determination. The obligation of Tenant to pay for Operating Expenses as provided herein shall survive the expiration or accounting showing Additional Rent dueearlier termination of this Lease. Tenant acknowledges that the Building and its tenants enjoy the non-exclusive use of shared common areas, a plaza, parking facilities and other benefits with the owner and tenants of an adjacent office building located at 000 Xxxxx Xxxxxxxx. Certain portions of the operating costs for such shared facilities shall be allocated to the Building, and Operating Expenses (defined below) will include an equitable allocation of the costs of ownership, operation, maintenance, repair and protection of such shared facilities.

Appears in 1 contract

Samples: Office Lease (FusionStorm Global, Inc.)

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Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or parcel of which the leased premises are a part shall in any calendar year during the term of this Lease, exceed the sum of $5.50 PER USABLE square foot. Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments payment made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant 365 Lessee shall have the right, ; at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Commercial Lease (Paysys International Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1997 Base Year Operating Expenses, including taxes and insurance per square foot, taxes, and insurance. Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent lessee's pro rata share of Operating Expenses such excess operating expenses. Lessee occupies 17,920 square feet of space in a project totaling 140,762 square feet (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (10012.73%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Commercial Lease (Spacehab Inc \Wa\)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the actual operating expenses per sq. ft. for the calendar year 1994, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses Lessor shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Lessee's pro rata share is 36.527%.

Appears in 1 contract

Samples: Standard Commercial Lease (Styrochem International LTD)

Operating Expenses. In addition to Base Rent payable under paragraph 3.1 above, Tenant agrees to pay pay, commencing on the Term Commencement Date and continuing throughout the Term, as Additional RentRent its pro-rata share of the “Operating Expenses” (hereinafter defined) for the Building and, (except during to the applicable Free Rent Period) Tenant’s pro extent applicable, to the Property, together with any and all sales or use taxes levied thereon. The pro-rata share of Operating Expenses (as hereinafter defined“Share”) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall to be paid by Tenant in the proportion that the Rentable Area in shall be 22.74% (364,168 rentable square feet of the Leased Premises (as set forth hereinabovedivided by 1,601,218 rentable square feet of the Building) bears of the Operating Expenses. Landlord agrees that notwithstanding anything contained in this Lease to the total Rentable Area in Unit A contrary, subject to the abatement provided for herein, Tenant’s Share of Operating Expenses are fixed at $0.75 per rentable square foot per year for the initial twelve (12) months of the Term based upon the budget attached hereto as Exhibit C, which to the best of Landlord’s knowledge fairly and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)accurately describes the anticipated Operating Expenses for calendar year 2013. Landlord may invoice shall deliver monthly invoices to Tenant monthly for Tenant’s pro rata share Share of the estimated Operating Expenses for each calendar yearExpenses, which amount and such invoices shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretiondue and payable within ten (10) days of receipt. Within four (4) months following From time to time during the close of each calendar yearTerm, Landlord shall provide send a statement of Operating Expenses to Tenant an accounting showing for any portion of the Term that has expired providing in reasonable detail a statement of all computations of Operating Expenses due under this section includingincurred in the operation of the Property along with the amount representing Tenant’s Share thereof (the “Statement”). In Concurrently with the event the accounting shows that the total invoice described above, Landlord shall also provide an estimate of future Operating Expenses and a new estimate of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the as Additional Rent payable under the terms of this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLease.

Appears in 1 contract

Samples: Warehouse Space Lease Agreement (Body Central Corp)

Operating Expenses. Tenant agrees to shall pay monthly as Additional Rent, Rent an amount equal to one-twelfth (except during the applicable Free Rent Period1/12th) of Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share 's Proportionate Share of the estimated Operating Expenses for each Expenses. For the period from the Commencement Date to the date of the first adjustment as provided below, Tenant shall pay One Thousand Twenty-Two Dollars and Fifty-Seven Cents ($1,022. 57)per month as the estimated Tenant's Proportionate Share of Operating Expenses. Each calendar yearyear on or before April 1, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar yearor as soon thereafter as is reasonably possible, Landlord shall provide deliver to Tenant an accounting showing in a statement setting forth Landlord's reasonable detail all computations estimate of the Operating Expenses for the then current calendar year and shall furnish to Tenant a statement (the "Expense Statement") which shall set forth the actual Operating Expenses for the prior calendar year. Tenant shall continue to pay monthly installments in the current amount until Tenant receives notice of a change in payment from Landlord and thereafter each monthly installment will be increased by a prorata portion of the amount by which the payments which have been made in the calendar year are less than the amount due at the increased installment rate. Landlord agrees to keep true and accurate records of the Operating Expenses of the Building in accordance with generally accepted accounting principles. After delivery of the Expense Statement, there shall be an adjustment between Landlord and Tenant such that after said adjustment Tenant will have paid the Additional Rent amount due in accordance with this section. Payment pursuant to said adjustment to Landlord or Tenant, as the case may be, shall be made within thirty (30) days from the date of Tenant's receipt of the Expense Statement. For any period less than a full calendar month or year, Tenant's Additional Rent under this section includingshall be prorata based on actual expenses for that calendar year or month. In the event the accounting shows that less than ninety-five percent (95%) of the total of square footage in the monthly payments made Project is occupied by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a tenants at all times during any calendar year, the amount of any Additional Rent payable by Tenant applicable to the then Operating Expenses for such year in which such termination shall occur shall be prorated on the ratio include all additional costs, expenses and disbursements that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall Landlord reasonably determines would have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) been incurred had ninety-five percent (595%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of total square footage in the Project been occupied at all times during such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueyear by tenants.

Appears in 1 contract

Samples: Lease Agreement (Newagecities Com Inc)

Operating Expenses. Tenant If Lessor’s Operating Expenses per net rentable square foot for the Property, in any calendar year during the term of this Lease exceeds the Operating Expense Base, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenantadditional rent Lessee’s pro rata share of such Excess Operating Expenses, subject to the limitations set forth below. As used herein, the term “Lessee’s share of such Excess Operating Expenses” means the amount by which Lessor’s Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Operating Expense Base, multiplied by the Net Rentable Area comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for TenantLessee’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four one-hundred twenty (4120) months days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event Failure of Lessor to give Lessee said notice within said time period shall not be a waiver of Lessor’s right to collect said additional rent. If the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses the additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Lessor within one (1) year following the termination date, shall have the option to invoice Lessee for Lessee’s share of the Excess Operating Expenses due as Additional Rentbased upon the previous year’s Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, right at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlordduring Lessor’s regular business hours Lessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditSection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Lease Agreement (Diamondback Energy, Inc.)

Operating Expenses. Tenant agrees shall pay from time to pay time an amount (the “Excess”) calculated by multiplying (a) the amount by which the Basic Cost (defined below), divided by the Total Rentable Square Feet, exceeds 2006 actual Basic Costs (the “Expense Stop”), by (b) the Rentable Square Feet. The Excess may be calculated and collected annually in arrears on a calendar year basis and, in such event, shall be due within thirty (30) days after Landlord furnishes to Tenant a written statement (the “Annual Operating Statement”) reflecting the Basic Cost for the calendar year (as Additional Rentmay be adjusted as provided herein) and calculating the Excess, (except during if any. Said statement shall be furnished by April 1 immediately following the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount or as soon thereafter as practicable. Alternatively, Excess may be estimated and collected monthly and then reconciled against Basic Costs at calendar year end. In such event, Landlord shall be adjusted each make and notify Tenant of its good faith estimate of the Excess for the applicable calendar year based upon anticipated Operating Expenses determined (or part thereof), whereafter, Tenant shall pay to Landlord, in Landlord’s reasonable discretion. Within four (4) months following advance on the close first day of each calendar month of such year (or part thereof), an amount equal to the estimated Excess divided by 12 (or such lesser number of months as applicable). From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may re-estimate the event the accounting shows Excess for that the total of calendar year and the monthly payments made by Tenant exceeds the amount installments of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on adjusted accordingly so that, by the ratio that the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid the right, at its own expense full Excess as estimated by Landlord for such year. The Basic Cost (other than the first year in which the Building is occupied) and within six (6) months after Tenant receives Expense Stop shall be prorated for any portion of the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more Term which is less than once each a full calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (ReachLocal Inc)

Operating Expenses. Tenant agrees to pay as Additional RentBeginning on the first day of January, (except 1999 and on the first day of each January thereafter during the applicable Free Rent PeriodLease Term, Lessee shall pay to Lessor as additional rent Lessee's Proportionate Share (as hereinafter defined) Tenant’s pro rata share of Common Operating Expenses (as hereinafter defined) in excess of Lessee's Proportionate Share of Common Operating Expenses for the Leased calendar year 1998 (herein called the "Base Year"). The Common Operating Expenses for the Base Year shall be estimated and calculated as accurately as possible as provided herein and shall be equitably adjusted so that such operating expenses are grossed up to reflect a full year of operation of the Building due to the Base Year not being a full year of operation for the Building. The Common Operating Expenses for the Base Year shall be further adjusted to reflect monthly totals which would have been measured assuming that Lessee had occupied and been fully operational in 100% of the Premises as of the Commencement Date; in determining such monthly totals, Lessor shall give greatest weight to those months when Lessee physically occupied 100% of the Premises. For purposes Lessee shall also pay as additional rent all other charges, costs and expenses which are not included within Common Operating Expenses or Building services if such services are to be provided by Lessor under the terms hereof and which other charges, costs or expenses are incurred by Lessor at the request of this LeaseLessee as a result of any use of the Premises by Lessee, Tenant’s pro rata share excluding any repairs or replacements to be made to the Premises by Lessor and at Lessor's expense in accordance with Section 14 hereof and excluding any work to be performed by Lessor and at Lessor's expense in accordance with Section 10 hereof. Lessee's Proportionate Share of Common Operating Expenses shall be paid by Tenant prorated as necessary for any calendar year during which this Lease is in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly effect for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of full twelve month calendar year. Common Operating Expenses due by Tenant under this section, the accounting shall be accompanied by calculated on an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueaccrual basis.

Appears in 1 contract

Samples: Lease Agreement (Harbinger Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of the Operating Expenses (as hereinafter defined) of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four one hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Lease Agreement (Fieldworks Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time- to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses and shall be due at the same time base rent is due. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the rightExcept as otherwise provided herein, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease (Vital Health Technologies Inc)

Operating Expenses. From and after the Suite F Commencement Date and continuing through the remainder of the Expansion Space Term, in addition to the Operating Expenses payable by Tenant agrees respecting the Existing Premises, Tenant shall also pay for Tenant's Pro Rata Share of Operating Expenses respecting the Suite F Expansion Space. Such amounts shall be payable in accordance with the terms of the Existing Lease; provided, however, any caps on increases in Operating Expenses respecting the Existing Premises shall not apply to pay as Additional Rentthe Suite F Expansion Space. During the Expansion Space Term, (except during the applicable Free Rent Period) Tenant’s pro rata share 's Pro Rata Share of Operating Expenses (as hereinafter definedexclusive of Taxes) for respecting the Leased Premises. For purposes of this Lease, Suite F Expansion Space shall not increase by more than 5% per calendar year on a compounding and cumulative basis throughout the Expansion Space Term (e.g. Tenant’s pro rata share 's Pro Rata Share of Operating Expenses (other than Taxes) for 2017 00498\026\7752798.v3 shall not exceed 105% of Tenant's Pro Rata Share of Operating Expenses (other than Taxes) for 2016; Tenant's Pro Rata Share of Operating Expenses (other than Taxes) for 2018 shall not exceed 105% of the maximum allowable amount of Tenant' s Pro Rata Share of Operating Expenses (other than Taxes) permitted for 2017; etc.). By way of illustration, if Tenant's Pro Rata Share of Operating Expenses (other than Taxes) respecting the Suite F Expansion Space for 2016 were to be paid by Tenant $1.00 per rentable square foot per month, then Tenant's Pro Rata Share of Operating Expenses (other than Taxes) respecting the Suite F Expansion Space for 2017 would not exceed $1.05 per rentable square foot per month, and Tenant's Pro Rata Share of Operating Expenses (other than Taxes) respecting the Suite F Expansion Space for 2018 would not exceed $1.1025 per rentable square foot per month. For the avoidance of doubt, nothing contained herein shall limit in any way Tenant's liability for Taxes respecting the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Suite F Expansion Space. Landlord and Tenant agree acknowledge that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations purposes of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to respecting the year in which such termination Suite F Expansion Space, Tenant's Pro Rata Share shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5equal 7.54%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease (Sangamo Therapeutics, Inc)

Operating Expenses. (a) Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s pro rata share of shall be responsible for all Operating Expenses in regard to the Premises which shall include but not be limited to the items set forth in subsections (as hereinafter definedb) and (c) below. The items in subsection (b) shall be paid by Landlord and reimbursed by Tenant. The items in subsection (c) shall be the sole responsibility of Tenant and shall be paid directly by Tenant. (b) All real estate taxes and insurance premiums on the Premises, including the land, building, and improvements shall be paid by Landlord and reimbursed by Tenant. The real estate taxes shall include all real estate taxes and assessments that are levied upon or assessed against the Premises, including any taxes which may be levied on rents other than federal and state income taxes. The insurance shall include all insurance premiums for fire, extended coverage, liability, and any other insurance that Landlord deems necessary for the Leased Premises. For purposes of The tax and insurance expenses required to be paid in this Lease, Tenant’s pro rata share of Operating Expenses subsection (b) shall be paid by Tenant to Landlord in one lump sum within five (5) business days of Landlord's presentation of an invoice or other statement evidencing the proportion that amount due. Alternatively, if any lender financing the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant building requires a monthly for Tenant’s pro rata share escrow of the above amounts, they shall be estimated Operating Expenses for each calendar year, which in advance by Landlord. The estimated amount shall be adjusted each year based upon anticipated Operating Expenses determined paid monthly in Landlord’s reasonable discretion. Within four (4) months following advance by Tenant in conjunction with the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses payments due under this section includingSection 4 promptly upon receipt of yearly estimates. In The amount paid shall be held by Landlord for the event the accounting shows that the total payment of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refundtax and insurance expenses. In the event the accounting shows that the total of the monthly payments made by Tenant If Landlord's estimate is less than the amount of Operating Expenses due by actual cost, Tenant under this sectionshall pay to Landlord on demand the amount, if any, equal to the difference between the actual tax and insurance expenses and the estimated tax and insurance expenses. If Landlord's estimate exceeds the actual cost, the accounting balance remaining after payment of the actual tax and insurance expenses shall be accompanied held by an invoice Landlord and applied to the next monthly payment(s) of tax and insurance expenses required to be paid in this subsection (b). The Tenant shall not be entitled to receive interest on any additional amounts paid. Even though the term has expired and Tenant has vacated the Premises, when the final determination is made of Tenant's actual tax and insurance expenses for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination this Lease terminates, Tenant snail immediately pay any balance due or Landlord shall occur Immediately refund any overpayment. (c) Tenant shall be prorated on solely responsible for and shall directly pay for the ratio that following expenses set forth in this subsection (c) , and the number of days from expenses for items set forth in Paragraph 10(c) below: (i) All water, sewer, gas, electricity and other utilities, and materials used in the commencement operation and maintenance of the calendar year Premises. (ii) All maintenance and repair expenses incurred for: the plumbing, heating, ventilation, air conditioning and electrical systems of the Building (except as set forth in Section 9(a)(2)); greenbelt areas; the parking lot areas (which shall include all general maintenance and repairs, resurfacing, painting, restriping, cleaning, snow removal, sweeping and janitorial services); maintenance and repair of sidewalks, curbs and signs; maintenance and repair of sprinkler systems; lighting and other utilities; maintenance and repair of any fire protection systems, lighting systems, and any other utility systems; all costs and expense pertaining to any security alarm system; upkeep of maintenance and including the Expiration Date bears to 365. Tenant shall have the rightoperating machinery and equipment and amounts paid for such machinery and equipment, at its own expense and within six if any. (6d) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable Landlord may give written notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of Tenant's failure to perform its required duties under subsection 6(c). If after thirty (a30) five percent (5%) of Operating Expenses or (b) Five Hundred days written notice, Tenant fails to diligently perform and No/100 Dollars ($500.00complete its required duties under subsection 6(c), Landlord may elect to perform such duties and the reasonable costs incurred shall constitute additional rent due and payable to Landlord within five (5) days after such amounts are disclosed to Tenant. (e) Landlord shall be responsible for and shall pay for all maintenance and repairs to the roof which are not borne by Tenant in paragraph 10(b), exterior finish (painting) and items of a purely structural nature. If, after thirty (30) days' written notice, Landlord fails to diligently perform and complete the above necessary maintenance and repairs, Tenant may elect to effect the maintenance and repairs in a reasonable manner and shall be reimbursed by Landlord for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt costs of the invoice maintenance or accounting showing Additional Rent duerepairs.

Appears in 1 contract

Samples: Lease (Visual Numerics Inc)

Operating Expenses. (a) Tenant agrees to pay as Additional Rent, additional rent (except during over and above the applicable Free Rent Periodbass rental) Tenant’s pro rata 's proportionate share of operating expenses, prorated with respect to partial calendar years in which the lease is in effect. Operating Expenses cost per net rentable square foot shall be determined by dividing the operating costs of the Building for the year in question by the total net rentable area within the Building. Tenant's proportionate share of the excess operating expenses shall be equal to the net rentable area (in square feet) of the Leased Premises multiplied by the operating cost per net rentable square foot as determined in the manner described above. Landlord xxxx use its best efforts to invoice Tenant for the operating expenses within ninety (90) days after the end of each calendar year in which this additional rental is due and Tenant agrees to make payment of the additional rental to Landlord, within thirty (30) days following receipt of the billing. Landlord may, at its option, prior to the commencement of any calendar year, or during any calendar year, estimate the amount of the operating expenses for the forthcoming year or for the current year. Landlord shall compute Tenants proportionate share of such estimated operating expenses and one-twelfth (l/12) of Tenants proportionate share (as hereinafter definedso estimated) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (each month as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)additional rent. Landlord may invoice shall use its best effort to compute the actual operating expenses for the year in question within ninety (90) days of the conclusion of such year, and if the expenses for the estimated payments collected from Tenant monthly for during the year are insufficient to cover Tenant’s pro rata 's proportionate share of the estimated Operating Expenses actual operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.in

Appears in 1 contract

Samples: Office Space Lease Agreement (Zix Corp)

Operating Expenses. Tenant agrees shall pay from time to pay time an amount (the “Excess”) calculated by multiplying (a) the amount by which the Basic Cost (defined below), divided by the Total Rentable Square Feet, exceeds 2010 actual Basic Costs (the “Expense Stop”), by (b) the Rentable Square Feet. The Excess may be calculated and collected annually in arrears on a calendar year basis and, in such event, shall be due within thirty (30) days after Landlord furnishes to Tenant a written statement (the “Annual Operating Statement”) reflecting the Basic Cost for the calendar year (as Additional Rentmay be adjusted as provided herein) and calculating the Excess, (except during if any. Said statement shall be furnished by April 1 immediately following the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount or as soon thereafter as practicable. Alternatively, Excess may be estimated and collected monthly and then reconciled against Basic Costs at calendar year end. In such event, Landlord shall be adjusted each make and notify Tenant of its good faith estimate of the Excess for the applicable calendar year based upon anticipated Operating Expenses determined (or part thereof), whereafter, Tenant shall pay to Landlord, in Landlord’s reasonable discretion. Within four (4) months following advance on the close first day of each calendar month of such year (or part thereof), an amount equal to the estimated Excess divided by 12 (or such lesser number of months as applicable). From time to time during any calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In may re-estimate the event the accounting shows Excess for that the total of calendar year and the monthly payments made by Tenant exceeds the amount installments of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent Excess payable by Tenant applicable to the year in which such termination shall occur shall be prorated on adjusted accordingly so that, by the ratio that the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have paid the right, at its own expense full Excess as estimated by Landlord for such year. The Basic Cost (other than the first year in which the Building is occupied) and within six (6) months after Tenant receives Expense Stop shall be prorated for any portion of the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more Term which is less than once each a full calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (ReachLocal Inc)

Operating Expenses. Tenant agrees to pay Commencing as Additional Rent, (except during of the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for Commencement Date and continuing throughout the Leased Premises. For purposes term of this Lease, Tenant shall pay, as additional rent ("additional rent"), Tenant’s 's pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabovedefined in Section 1.7 above) bears to of the total Rentable Area in Unit A and operating expenses of Landlord and Tenant agree that such pro rata share shall equal one hundred percent for the Building (100%the "operating expenses"). Landlord may shall invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the event the accounting shows that If the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous calendar year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting (together with reasonable supporting documentation) showing Additional Rent additional rent due.. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Section 1.2 above and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time. Landlord shall maintain books and records showing, in reasonable detail, actual operating expenses in accordance with generally accepted accounting principles. All such books and records shall be made available to Tenant for inspection upon reasonable prior notice. Notwithstanding anything contained herein to the contrary, any capital improvements to the Building over $15,000.00 shall be amortized at 8% interest over its useful life in accordance with generally acceptable accounting principles (GAAP). 41905151-2

Appears in 1 contract

Samples: Lease (DJO Finance LLC)

Operating Expenses. Tenant agrees to pay as Additional RentIn the event that Lessor's Operating Expenses for the Building and/or Project of which the Leased Premises are a part shall, (except in any calendar year during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes term of this Lease, Tenant’s pro rata exceed the sum of the calendar year 1999 operating expenses per rentable square foot, Lessee shall pay, as additional rent, Lessee's prorata share of such excess Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s pro rata Lessee's prorata share of the estimated incurred Operating Expenses for each calendar year, which amount shall be adjusted each year by Lessor based upon reasonable anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four five (45) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee with an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection 2.03. In the event the that Lessor's accounting shows that the total of the monthly estimated payments made by Tenant Lessee exceeds the actual amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection 2.03, the accounting then so long as Lessee is not in default hereunder, Lessee's account shall be accompanied by a refundcredited with such amount. In the event the that Lessor's accounting shows that the total of the monthly estimated payments made by Tenant Lessee is less than the actual amount of Operating Expenses additional rent due by Tenant Lessee under this sectionSection 2.03, then the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provision in this Lease, during the year in which the Expiration Date or sooner termination of the Lease occurs, Lessor shall have the option to invoice Lessee for Lessee's prorata share of the excess Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within a reasonable time, to audit Lessor's books relevant to the additional rent payable under this Section 2.03 Lessee may, upon not less than thirty (30) days prior written notice to Lessor, inspect Lessor's records for all Operating Expenses incurred during the preceding year at Lessor's general offices at such other location reasonably designated by Lessor at any time during reasonable business hours within six (6) months after Tenant receives the accounting described aboveend of said year. If said inspection reveals an overpayment of Operating Expenses, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not Lessor shall reimburse Lessee its proportionate share of any such overpayment within thirty (30) days after receipt of proper billing. If said inspection reveals that Lessor misstated Operation Expenses and insurance expenses by more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%), Lessor shall reimburse Lessee for all costs reasonably incurred in making such inspection within thirty (30) days after receipt of notice of determination, and of the amount, of any such misstatement. Lessor's Operating Expenses or for any year shall be deemed correct if Lessee does not give Lessor written notice of discrepancy within ninety (b90) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost days of such auditreceipt of operating expense notice. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section 2.03 within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. The Operating Expenses that vary with occupancy and that are attributable to any part of the term in which less than one hundred percent (100%) of the rentable area of the Building is occupied by lessees will be adjusted by Lessor to the amount Lessor reasonably believes such expenses would have been ninety-five percent (95%) of the rentable area of the Building had been occupied. For purposes of determining Operating Expenses for the calendar year 1999, the real estate taxes will be those imposed on the first year in which the building is fully assessed as a completed building.

Appears in 1 contract

Samples: Commercial Lease (New Era of Networks Inc)

Operating Expenses. In addition to Base Rent payable under paragraph 3.1 above, Tenant agrees to pay as Additional RentRent its pro-rata share of the "Operating Expenses" (hereinafter defined) for the Building and, (except during to the applicable Free Rent Period) Tenant’s pro extent applicable, to the Property. The pro-rata share of Operating Expenses (as hereinafter defined"Share") for to be paid by Tenant shall be 11.55% (198,144 divided by 1,715,000) of the Leased PremisesOperating Expenses. For purposes of this Lease, Tenant’s pro rata share 's Share of Operating Expenses shall include no less than $.40 per square foot per year (which amount consists of $.23 per square foot for Real Property Taxes [as herein defined], $.07 per square foot for insurance and $.10 per square foot for common area maintenance charges) and an additional amount for Tenant's use of the telephone system in the Building. Landlord shall deliver monthly invoices to Tenant for Tenant's Share of Operating Expenses, and such invoices shall be due and payable within ten (10) days of receipt. From time to time during the Term, Landlord shall send a statement of Operating Expenses to Tenant for any portion of the Term that has expired providing in reasonable detail a statement of all Operating Expenses incurred in the operation of the Property along with the amount representing Tenant's Share thereof. Tenant shall be given a credit against its Share of future Operating Expenses payable for any overpayment of Operating Expense that have been paid up to the time of said statement. If Tenant has underpaid, then the balance due shall be paid to Landlord by Tenant within thirty (30) days of the date of said statement unless the statement is rendered at the end of the Term in which case any overage due the Landlord will be paid by Tenant in check at the proportion that the Rentable Area in time the Leased Premises (as set forth hereinabove) bears are delivered to Landlord by Tenant. Concurrent with the total Rentable Area in Unit A invoice described above, Landlord shall also provide an estimate of the Operating Expenses and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share a statement of the estimated monthly Operating Expenses Expense payable by Tenant as additional rent under the terms of this Lease. Tenant's liability for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations its Share of Operating Expenses due under this section including. In shall commence on the event the accounting shows that the total date of Tenant's actual occupancy of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this sectionLeased Premises, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable without regard to the year in which such termination shall occur shall be prorated on date the ratio that the number payment of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Base Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent duecommences.

Appears in 1 contract

Samples: Warehouse Space Lease Agreement (Excal Enterprises Inc)

Operating Expenses. (1) Tenant agrees to shall pay as an amount ("Additional Rent, (except during the applicable Free Rent Period") Tenant’s pro rata equal to its proportionate share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Costs. Landlord may invoice collect such amount annually in arrears in a lump sum, which shall be due within 30 days after Landlord furnishes to Tenant monthly for Tenant’s pro rata share the Operating Costs and Tax Statement (defined below). Alternatively, Landlord may make a good faith estimate of the estimated Operating Expenses Additional Rent to be due by Tenant for each any calendar yearyear or part thereof by thirty (30) days prior notice to Tenant during the Term, which amount and Tenant shall be adjusted each year based upon anticipated Operating Expenses determined in pay to Landlord’s reasonable discretion. Within four (4) months following , on the close Commencement Date and on the first day of each calendar yearmonth thereafter, an amount equal to the estimated Additional Rent for such calendar year or part thereof divided by the number of months therein. From time to time, Landlord shall provide Tenant an accounting showing may estimate and re-estimate in reasonable detail all computations of Operating Expenses due under this section including. In good faith the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses Additional Rent to be due by Tenant under this sectionand deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the accounting shall be accompanied by a refund. In the event the accounting shows that the total monthly installments of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on appropriately adjusted in accordance with the ratio that estimations so that, by the number of days from the commencement end of the calendar year to and including the Expiration Date bears to 365. in question, Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to paid all of the Additional Rent payable under this section upon reasonable notice as estimated by Landlord. Any amounts paid based on such an estimate shall be subject to Landlordadjustment as herein provided when actual Operating Costs are available for each calendar year. (2) The term "Operating Costs" shall mean all expenses and disbursements (subject to the limitations set forth below) that Landlord incurs in connection with the ownership, operation, and maintenance of the Building, determined in accordance with sound accounting principles consistently applied, including, but not more limited to, the following costs: (A) wages and salaries (including management fees) of all employees engaged in the operation, maintenance, and security of the Building, including taxes, insurance and benefits relating thereto; (B) all supplies and materials used in the operation, maintenance, repair, replacement, and security of the Building; (C) costs for improvements made to the Building which, although capital in nature, are expected to reduce the normal operating costs of the Building, as well as capital improvements made in order to comply with any law hereafter promulgated by any governmental authority, as amortized over the useful economic life of such improvements as determined by Landlord in its reasonable discretion; (D) cost of all utilities, except the cost of utilities reimbursable to Landlord by the Building's tenants other than once each calendar yearpursuant to a provision similar to this Section 3.(c; however(E) insurance expenses; (F) repairs, replacements, and general maintenance of the Building; and (G) service or maintenance contracts with independent contractors for the operation, maintenance, repair, replacement, or security of the Building (including, without limitation, alarm service, window cleaning, and elevator maintenance). The following shall not be deemed Operating Costs: (i) capital improvements made to the Building, other than capital improvements described in Section 3(c)(2)(C) and except for items which are generally considered maintenance and repair items, such as painting of common areas, replacement of carpet in elevator lobbies, and the like; (ii) repair, replacements and general maintenance paid by proceeds of insurance or by Tenant or other third parties; (iii) interest, amortization or other payments on loans to Landlord; (iv) depreciation; (v) leasing commissions; (vi) legal expenses for services, other than those that benefit the Building tenants generally (e.g., tax disputes); (vii) renovating or otherwise improving space for occupants of the Building or vacant space in the Building; (viii) Taxes (defined below), (ix) federal income taxes imposed on or measured by the income of Landlord from the operation of the Building; (x) expenditures for repairs, replacements or rebuilding occasioned by fire or other casualty to the Building; (xi) expenditures for repairs, replacements or rebuilding occasioned by any of the events contemplated by Section 13 of this Lease; (xii) expenditures for costs, including advertising and promotional expenses, incurred in connection with efforts to lease portions of the Building and to procure new tenants for the Building; (xiii) expenditures for the salaries, benefits and other compensation of the employees and other personnel of the Landlord or any managing agent who are not contemplated by subsection 3(c)(2)(A); (xiv) expenditures to an affiliate of the Landlord to the extent any such expenditure exceeds the amount that would have been payable in the absence of such affiliate relationship; (xv) expenditures for installing, operating and maintaining any special facility in or on the Building such as an observatory, broadcasting facility, cafeteria or dining facility or athletic, recreational or luncheon club if the audit correctly discloses respective facility shall not be available to the Tenant or any of its employees; (xvi) expenditures for what would otherwise be an overpayment by Tenant of more than Operating Cost which are reimbursed under any construction contractors' or manufacturers' or vendors' warranties or which are otherwise reimbursed to the greater Landlord; and (xvii) Operating Costs to the extent that the sum of (a) five percent (5%) the Tenant's proportionate share of Operating Expenses or Costs and (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost proportionate shares of such audit. Tenant agrees to keep Operating Costs of tenants of other leased premises in the results Building exceeds 100% of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent dueOperating Costs.

Appears in 1 contract

Samples: Lease Agreement (Palatin Technologies Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata share of the Operating Expenses (as hereinafter defined) of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year from time to time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event any event, if the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the Operating Expenses due as Additional Rentbased upon the previous calendar year’s Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time. Landlord shall maintain books and records showing, in reasonable detail, actual Operating Expenses in accordance with generally accepted accounting principles. All such books and records shall be made available to Tenant for inspection upon reasonable prior notice.

Appears in 1 contract

Samples: Lease Agreement (Cardiovascular Systems Inc)

Operating Expenses. (a) For each calendar year or portion thereof commencing January 1, 1997 and through the remainder of the Term, Tenant agrees to pay shall pay, as Additional Rent, (except during Tenant's Pro Rata Share of all increases in annual Operating Expenses, above and beyond the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (of calendar year 1996 which year shall serve as hereinafter defined) the base for calculating Operating Expense increases, for the Leased Premisescalendar year (or portion thereof) in question, which Additional Rent shall be due and payable within ten (10) days after Landlord's invoice therefor, accompanied by the statement described below. For purposes Landlord, at its option, may require Tenant to pay monthly, in advance, together with the payment of this LeaseBase Rent, an amount equal to (i) Landlord's reasonable estimate of Tenant’s pro rata share 's Pro Rata Share of increases in Operating Expenses shall for the current calendar year (which estimate may be revised by Landlord from time to time), less the amount of any increases in Operating Expenses previously paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that for such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each divided by (ii) the number of months remaining in such calendar year based upon anticipated Operating Expenses determined in as of the date Landlord’s reasonable discretion. 's estimate (or any revision thereof) is given to Tenant. (b) Within four one hundred fifty (4150) months following days after the close end of each calendar yearyear (or as soon thereafter as is practicable for Landlord), Landlord shall will provide Tenant an accounting showing with a statement in reasonable detail all computations of the Operating Expenses due under this section includingpayable by Tenant for such previous calendar year (with credit to Tenant for any monthly estimated payments paid by Tenant). In the event the accounting shows that Tenant may audit a Landlord's Operating Expenses once each year at Tenant's sole expense. If the total of the monthly payments made by Tenant exceed Tenant's Pro Rata Share of the actual increases in Operating Expenses, such excess will be credited to the next monthly installments due from Tenant. If Tenant's Pro Rata Share of the actual increases in Operating Expenses exceeds the amount of Operating Expenses due payments actually made by Tenant, Tenant under this sectionshall pay such deficiency, the accounting shall be accompanied by a refund. In the event the accounting shows that the total within ten (10) days after Landlord's delivery of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentstatement. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable Tenant's obligation to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under deficiency and Landlord's obligation to refund any surplus shall survive the expiration of this section within ten days following receipt of the invoice or accounting showing Additional Rent dueLease.

Appears in 1 contract

Samples: Lease Agreement (Optel Inc)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premises. For purposes building and/or project of this Leasewhich the leased premises are a part, Tenant’s except that Lessee's pro rata share of Operating for Controllable Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears limited to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred an increase of no more than six percent (1006%) from the previous calendar year. Controllable Expenses shall mean those expenses for which the Lessor contracts for services at a negotiated price or rate for services (including professional property management fees). Landlord Non-Controllable Expenses shall include all other expenses. Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. The current estimate of Lessee's share of operating expenses is Two and 60/100 Dollars ($2.60) per square foot of the leased premises which shall be paid in addition to and along with base rent. Lessee's prorated share of the projects operating expenses shall be 15.20%.

Appears in 1 contract

Samples: Commercial Lease Agreement (Hathaway Corp)

Operating Expenses. Tenant agrees to pay as Additional Rent, (except 5.1. For each calendar year or portion thereof during the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses Te1m after the Sublease Base Expense Year (as hereinafter defined) for ), Subtenant shall pay to Sublandlord, as additional rent (the Leased Premises. For purposes "Sublease Expense Payment"), the amount equal to Subtenant's Percentage 7553 !0v6 E:X'ECUTION VERSJON of this Lease, Tenant’s pro rata share of the amount by which Operating Expenses shall be paid by Tenant in Allocable to the proportion that the Rentable Area in the Leased Premises (as set forth hereinabovesuch te1m is defined in Section 2.6 of the Lease) bears payable by Sublandlord for such calendar year, as determined by Owner pursuant to a statement ("Owner’s Expense Statement") delivered to Sublandlord in accordance with Section 2.6 of the Lease, exceeds the Operating Expenses Allocable to the total Rentable Area in Unit A Premises payable by Sublandlord for the calendar year commencing on January 1, 2014 and Landlord end:iJ.1g on December 31, 2014 (hereinafter referred to as the "Sublease Base Expense Year"). 5.2. Within a reasonable time after receipt of Owner's Expense Statement, Sublandlord shall provide to Subtenant a written statement (a "Sublease Expense Statement"), ·which Sublease Expense Statement shall be based upon Owner's Expense Statement (and Tenant agree that a copy thereof provided to Subtenant), estimating the Sublease Expense Payment for such pro rata share shall equal one hundred percent calendar year (100%the "Estimated Sublease Expense Payment"). Landlord may invoice Tenant monthly for Tenant’s pro rata share Subtenant shall pay to Sublandlord on the first (1st) day of each month during each calendar year after the Sublease Base Expense Year, an amount equal to one-twelfth (1/12th) of the estimated Operating Expenses Estimated Sublease Expense Payment for such calendar year. If Sublandlord furnishes a Sublease Expense Statement for a calendar year following the commencement of such calendar year, then (x) until the first day of the month following the month in which such Sublease Expense Statement is furnished to Subtenant, Subtenant shall continue to pay to Sublandlord an amount equal to the monthly amount of the Estimated Sublease Expense Payment payable by Subtenant to Sublandlord for the prior calendar year; (y) promptly after the Sublease Expense Statement is furnished to Subtenant, Sublandlord shall give notice to Subtenant stating whether the amount of the Estimated Sublease Expense Payment previously paid by Subtenant to Sublandlord for the current calendar year was greater or less than the installments of the Estimated Sublease Expense Payment to be paid for the current calendar year, and (a) if there shall be a deficiency, Subtenant shall pay the amount thereof within fifteen (15) business days after Sublandlord delivers such Sublease Expense Statement to Subtenant, or (b) if there shall have been an overpayment, provided Subtenant is not in default hereunder following notice and the expiration of any applicable cure period, Sublandlord shall credit against the next installments of Sublease Expense Payment the amount of Subtenant's overpayment. On or before the first day of the month following the month in which the Sublease Expense Statement is furnished to Subtenant, and monthly thereafter throughout the remainder of the calendar year, Subtenant shall pay to Sublandlord an amount equal to one-twelfth (1/12th) of the Estimated Sublease Expense Payment shown on the most recent Sublease Expense Statement. If Sublandlord receives a revised Owner's Expense Statement, Sublandlord shall within a commercially reasonable time furnish to Subtenant a revised Sublease Expense Statement (and provide a copy of such revised Owner's Expense Statement to Subtenant, and the Estimated Sublease Expense Payment for such calendar year shall be adjusted in the same manner as provided in the preceding sentence. 5.3. At any time during or after each calendar year, which amount including, without limitation, the Sublease Base Expense Year, Sublandlord shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretion. Within four furnish to Subtenant an annual statement or statements (4the "Annual Statement ") months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds setting forth the amount of Operating Expenses due Allocable to the Premises payable by Tenant under this sectionSublandlord to Owner during such calendar year, which Annual Statement shall be prepared based upon Owner's annual statement pursuant to Section 2.6 of the Lease, if any, received by Sublandlord from Owner (a copy of which shall be provided to Subtenant) relating to annual Operating Expenses Allocable to the Premises payable by Sublandlord for the preceding calendar year. If for any calendar year following the Sublease Base Expense Year, the accounting Annual Statement shows that the Estimated Sublease Expense Payment (or other payments) for such calendar year exceeded the Sublease Expense Payment which should have been paid for such calendar year, provided Subtenant is not in default hereunder following notice and the expiration of any applicable cure period, Sublandlord shall be accompanied by a refundcredit against the next installment(s) of the Sublease Expense Payment payable hereunder, the amount of such excess. If the Annual Statement for such calendar year shows that the Estimated Sublease Expense Payment for such calendar year was less than the Sublease Expense Payment (or other payments) which should have been paid for such calendar year, Subtenant shall pay to Sublru1dlord the amount of such deficiency within fifteen (15) days after Sublandlord delivers the Annual Statement. 5.4. In the event that Subtenant reasonably believes that an Annual Statement furnished to Subtenant hereunder contains an error in calculating the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this sectionSublease Expense Payment, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, or if Subtenant reasonably disputes the amount of any Additional Rent payable by Tenant applicable to the year Sublease Expense Payment due hereunder, Subtenant shall notify Sublandlord in which writing (a "Dispute Notice.") within one hundred eighty (180) days of receipt of such termination shall occur shall be prorated on the ratio that the number of days from the commencement Annual Statement, vvith time being of the calendar year to essence, and including the Expiration Date bears to 365provide a reasonable basis for such alleged error or dispute. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost Upon receipt of such audit. Tenant agrees to keep the results of Dispute Notice, provided (i) Subtenant is not in default hereunder beyond any audit strictly confidential applicable notice and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.cure period,

Appears in 1 contract

Samples: Sublease Agreement (Care.com Inc)

Operating Expenses. In addition to Base Rent and other sums payable by Tenant agrees under this Lease, Tenant shall pay to pay Landlord, as Additional Rent, amounts for the Operating Expenses (except during defined below) for the applicable Free Rent Period) Tenant’s pro rata share Premises. Upon the Commencement Date, and thereafter prior to the commencement of each calendar year occurring wholly or partially within the Term or as soon as practical thereafter, Landlord shall estimate the annual amount of Operating Expenses payable by Tenant pursuant to this provision, and Tenant shall pay to Landlord on the first day of each month in advance, one twelfth (as hereinafter definedl/12th) for of such estimated amount. In the Leased Premises. For purposes event that during any calendar year of this Leasethe Term, Tenant’s pro rata share Landlord determines that the actual amount of Operating Expenses for such year will exceed the estimate, Landlord may revise such estimate by written notice to Tenant, and Tenant shall pay to Landlord, concurrently with the regular monthly rent payment next due following the receipt of the revised estimate, an amount equal to the difference between the initial monthly estimate and the revised monthly estimate multiplied by the number of months expired during such calendar year and shall also pay an amount equal to the revised monthly estimate for the month of such payment. Subsequent installments shall be paid by Tenant in payable concurrently with the proportion that regular monthly Base Rent due for the Rentable Area in balance of the Leased Premises (as set forth hereinabove) bears to calendar year and shall continue until the total Rentable Area in Unit A and next calendar year’s estimate is rendered or Landlord and Tenant agree that next revises such pro rata share shall equal estimate, whichever occurs sooner. Within one hundred percent twenty (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata share 120) days following the end of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s or a reasonable discretion. Within four (4) months following the close of each calendar yeartime thereafter, Landlord shall provide Tenant with a written statement of the actual total Operating Expenses for such year and there shall be an accounting showing adjustment made to account for any difference between the amounts paid by Tenant and the actual amount of such Operating Expenses. If Tenant has overpaid, Landlord shall, provided Tenant is not in reasonable detail all computations default hereunder, credit such overpayment to Tenant’s account. If Tenant has underpaid, Tenant shall pay the total amount of such deficiency to Landlord as Additional Rent with the next payment of Base Rent due under this Lease following delivery of written notice of said deficiency from Landlord to Tenant. Unless Tenant objects in writing regarding specific discrepancies in the Operating Expenses calculations for any calendar year within ninety (90) days after receipt of Landlord’s final calculations for such calendar year, Tenant shall be deemed to have approved the same and to have waived the right to object to such calculations. “Operating Expenses” means Real Property Taxes (defined below), Landlord’s insurance premiums set forth in Section 7.1 and Landlord’s total costs for roof replacement as set forth in Section 8.1 to the extent the cost of such roof replacement is amortized over the useful life of such capital item, in each case with interest on the unamortized balance at a rate of ten percent (10%) per annum. As part of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, also pay a monthly property management fee equal to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five four percent (54%) of monthly Operating Expenses or and Base Rent (bduring the Abated Rent Period, such fee shall be equal to four percent (4%) Five Hundred of monthly Base Rent as though Base Rent was Twenty Thousand and No/100 Dollars ($500.0020,000.00) per month), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent due.

Appears in 1 contract

Samples: Lease Agreement (Eastside Distilling, Inc.)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during additional rent commencing on the applicable Free Rent Period) Tenant’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this LeaseCommencement Date, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that operating expenses of Landlord for the Rentable Area in Building and/or project of which the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)are a part. Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year by Landlord upon no less than thirty (30) days notice to Tenant based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four ninety (490) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.8 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1, subject to adjustment as provided in this Lease, and the denominator of which shall be the net rentable area of the Building.

Appears in 1 contract

Samples: Standard Commercial Lease (Vascular Solutions Inc)

Operating Expenses. (a) Commencing on the Commencement Date, Tenant agrees shall pay to pay Landlord as additional rent (together with any other payments due from Tenant to Landlord hereunder other than the Minimum Rent, “Additional Rent”) all Operating Expenses pursuant to the terms, conditions and limitations of this Section 5.03. On or before the Commencement Date and on or before the first (except 1st) day of January first occurring after the Commencement Date and thereafter as soon as practical before each succeeding calendar year during the applicable Free Rent Period) Tenant’s pro rata share of Term, Landlord shall estimate the Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of calendar year in question (“Estimated Operating Expenses Expenses”) and shall be paid by submit such information to Tenant in a written statement (the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%“Estimated Expense Statement”). Landlord may invoice Tenant monthly shall use reasonable efforts to issue the Estimated Expense Statement for the following calendar year by November 1 of the then-current calendar year. (b) Commencing on the later of the Commencement Date or the first day of the calendar month following Tenant’s pro rata share receipt of Landlord’s first Estimated Expense Statement, Tenant shall pay to Landlord as Additional Rent a sum (the “Monthly Estimated Operating Expense Payment”) equal to one-twelfth (1/12) of the estimated Estimated Operating Expenses for each such calendar year, which amount shall be adjusted each year based upon anticipated (or a prorated portion thereof for any partial month). Tenant’s first Monthly Estimated Operating Expenses determined in Landlord’s reasonable discretion. Within four (4) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting Expense Payment shall be accompanied by a refund. In the event the accounting shows that the total payment of the monthly payments made by Tenant is less than the an amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable by Tenant applicable equal to the year in which such termination shall occur shall be prorated on the ratio that product of the number of days from the commencement of full months, if any, within the calendar year to which have elapsed between the Commencement Date and including such first Monthly Estimated Operating Expense Payment. During the Expiration Date bears to 365first Lease Year, Landlord may modify the Monthly Estimated Operating Expense Payment one time following the first ninety (90) days of the first Lease Year. Tenant shall have During any and all subsequent Lease Years, Landlord may modify the right, at its own expense and within Monthly Estimated Operating Expense Payment one time following the first six (6) months after of such Lease Year. In such event, Tenant receives shall (i) pay Landlord at the accounting described abovetime of the next due Monthly Estimated Operating Expense Payment the difference between all Monthly Estimated Operating Expense Payments theretofore paid and the amount that would have been paid based on such modification; provided, however, Tenant shall in all instances have no less than thirty (30) days’ prior notice of such new payment amount, and (ii) pay such modified amount thereafter during such Lease Year. Landlord shall monitor the Monthly Estimated Operating Expense Payment against actual and anticipated Operating Expenses and reduce the amount thereof if Landlord reasonably determines that it is collecting substantially (for purposes of this subsection 5.03(b), defined to mean ten percent (10%) or more) in excess of the amount reasonably required. (c) Landlord shall in no event recover more than the actual costs and expenses actually incurred and paid by Landlord in operating and maintaining the Premises, as set forth below (the “Operating Expenses”), including, without limitation, performing the work pursuant to Section 11 and providing all services pursuant to Section 17 hereof. Landlord shall not make a profit from the collection of the Operating Expenses from Tenant. Notwithstanding anything contained in the Lease to the contrary, prior to the Rent Commencement Date, Tenant shall only be required to pay for Operating Expenses if and to the extent of such Operating Expenses actually, demonstrably incurred as a result of Tenant’s occupancy of the Premises. Except as otherwise provided in this Lease, Operating Expenses shall mean (i) real estate taxes and similar taxes or assessments in lieu thereof for the Building (the “Real Estate Taxes”), subject to any abatements or credits and any savings that can be achieved for the early payment thereof (whether or not Landlord does, in fact, pay such taxes early) (“Real Estate Tax Expenses”); (ii) public and private assessments, levies or charges; (iii) the cost of labor (including, without limitation, salaries, wages and all fringe benefits made to or on behalf of any and all employees or agents of Landlord to the extent performing on site services rendered in connection with the operation, repair, maintenance, protection and management of the Building, all of which expenses shall not exceed the market rate for such services based on a competitively bid third party contract for other comparable office buildings in the area of the Building), permits, supplies, parts, tools, equipment, premiums for insurance required to be maintained by Landlord hereunder and other reasonable and necessary insurance based upon competitive bidding, market-rate management fees, maintenance and service contracts with independent contractors; (iv) capital improvements and major repairs/replacements made primarily for the purpose of reducing energy costs, provided that in any calendar year Landlord may only recover such costs to the extent of demonstrated, actual cost savings in such calendar year; (v) condominium association fees, if any, provided that the imposition of condominium association fees does not increase costs to Tenant and provided Landlord’s subjecting the Premises to a condominium regime does not in any way, directly and solely as a result thereof, limit or impair Tenant’s use or occupancy of the Premises or increase Tenant’s Operating Expenses taken as a whole; and (vi) all other items properly constituting direct operating costs according to GAAP, whether similar or dissimilar to the foregoing. All costs included in Operating Expenses shall be charged to Tenant at Landlord’s actual costs with no xxxx up, billing fee, service fee or other sum payable to Landlord and any cost or expense of the nature included in Operating Expenses shall be included no more than once. (d) Operating Expenses shall not include: capital expenditures except (i) as provided in Section 5.03(c) or (ii) if such capital expenditure was required to comply with applicable law, in which case such expense may be amortized over its useful life with interest at Landlord’s borrowing rate; management fees to the Management Company greater than the fees being charged by independent third party managers in the market based on competitive bidding, but in no event greater than *** percent (***%) of the then current Stripped Rent in the aggregate (provided, however, in the event Tenant exercises its right to replace the Management Company pursuant to Section 17.09 and engages a manager directly, no management fee may be included in Operating Expenses); depreciation or amortization or interest paid on any mortgage, or ground rents paid under land leases; any costs incurred in the ownership of the Building, as opposed to the operation and maintenance of the Building, including income taxes, excess profit taxes, franchise taxes, capital stock taxes or similar taxes on Landlord’s business except to the extent the same is an Imposition (as defined hereinafter); commissions payable to leasing brokers, utility costs directly metered to or paid by Tenant; any materials, goods, products or services paid for directly by Tenant; wages, salaries or other compensation paid to employees above the level of the property manager referred to in Section 17.01; leasing commissions, finders’ fees and all other leasing expenses incurred in procuring tenants in the Building including Tenant; preparation of income tax returns; corporation, partnership or other business form organizational expenses; filing fees; general corporate overhead, general administrative expenses; or other such expenses; any costs incurred in removal, cleaning, abatement or remediation of any environmental hazard or condition in violation of any environmental law (except to the extent caused directly by Tenant) but such exclusion does not relieve Tenant of Tenant’s obligations and liabilities as provided in Section 12; the cost of correcting violations of or non-compliance with law or code existing as of the Commencement Date; legal fees for the negotiation or enforcement of leases; the cost of constructing tenant improvements or installations for Tenant; principal payments of any mortgage and other non-operating debts of Landlord; brokerage commissions, origination fees, points, mortgage recording taxes, title charges and other costs or fees incurred in connection with any financing or refinancing of the Building or the securing or defense of Landlord’s title to the Building; advertising and promotional expenses, including brochures with respect to the Building; cost of repairs or replacements occasioned by fire, windstorm or other casualty, the costs of which are covered by insurance maintained or required to be maintained by Landlord under this Lease or reimbursed by governmental authorities in eminent domain or reimbursed by third parties (other than through Operating Expenses); amounts paid to subsidiaries or affiliates of Landlord for services in or to the Building, to audit the extent that the costs of such services exceed market-based, competitively bid costs for such services rendered by unaffiliated persons or entities of similar skill, competence and experience; penalties, fines, legal expenses, or late payment interest incurred by Landlord due to violation by Landlord, or Landlord’s books relevant to agents, contractors or employees, of either the Additional Rent payable under this section upon reasonable notice to payment terms and conditions of any lease or service contract covering space in the Building or Landlord’s obligations as owner of the Building (such as, but not more limited to, late payment penalties and interest on real estate taxes and late payment of utility bills); any compensation paid to clerks, attendants or other persons in any commercial concession operated by Landlord in the Building from which Landlord receives any form of income whatsoever, whether or not Landlord actually makes a profit from such concession; costs incurred in connection with correcting defects or nonconforming Work, or any other deficiencies existing as of the Commencement Date or during any warranty period, latent defects in the Building, or in repairing or replacing Building equipment, where such repair or replacement results from original defects in design, manufacture or installation rather than once each calendar yearfrom ordinary wear and tear or use (provided, however that Landlord shall bear no financial responsibility for the failure of the Tenant Specified Improvements to meet Tenant’s requirements, provided that the Tenant Specified Improvements were built to (and installed, as the case may be) in accordance with the specifications set forth in the Construction Documents and perform in accordance with the manufacturer’s specifications for such Tenant Specified Improvements; provided further, by way of example, if the specifications in the Construction Documents provide for the cooling setpoint for a laboratory to be 72 degrees dry bulb temperature and 30% relative humidity and such specifications are met, then such Work would not be considered defective, nonconforming or otherwise deficient regardless of whether such specifications are sufficient for Tenant’s requirements; however, if the audit correctly discloses an overpayment by Tenant aforementioned specifications were not met then the Work would be considered defective, nonconforming or otherwise deficient); rentals and other related expenses incurred in leasing air conditioning systems, elevators or other equipment ordinarily considered to be of more a capital nature other than equipment used in providing janitorial services and not affixed to the greater of (a) five percent (5%) of Operating Expenses Building; structural repairs to the foundations, walls or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt roof of the invoice Building; or accounting showing Additional Rent due.lease concessions, including rental

Appears in 1 contract

Samples: Lease Agreement (Incyte Corp)

Operating Expenses. In the event Landlord's Operating Expenses for the Property of which the Leased Premises are a part shall, in any calendar year during the term of this Lease, exceed the Expense Stop set forth in Section 1.07 of this Lease. Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of such excess Operating Expenses (as hereinafter defined) for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Expenses. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionExpenses. Within four (4) nine months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by a refundcredit against the next monthly rental payment. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this section, the accounting shall be accompanied by an invoice for the additional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the excess Operating Expenses due as Additional Rentbased upon the previous year's Operating Expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated based on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Provided Tenant is not in default of the Lease, Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s 's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice section. Tenant agrees that any information or agreements related to Landlordsuch audit shall be held by Tenant, but not more than once each calendar year; howeverits employees, if the agents and contractors in strictest confidence. Tenant shall indemnify and hold harmless Landlord from and against any claims, damages, costs or liabilities incurred by Landlord in connection with any breach of this confidentiality clause by Tenant, its employees, agents or contractors. As a precondition to any audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)hereunder, Landlord shall pay for the reasonable cost of such auditmay require any Tenant-related auditor or other agent to sign a confidentiality agreement on Landlord's form. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. Landlord's failure to timely meet any requirements of this Paragraph 2.02 shall in no way constitute a waiver of its rights to collect such Operating Expenses from Tenant and Tenant shall be bound to perform its obligations hereunder in any event.

Appears in 1 contract

Samples: Standard Commercial Lease (Gary Player Direct Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $________________ THE ACTUAL OPERATING EXPENSE per square foot FOR THE CALENDAR YEAR 1994, INCLUDING COMMON AREA MAINTENANCE (CAM), Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expensed for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments are made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease lease shall terminate on a the day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Performance Printing Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased PremisesProject of which the Premises is a part. For purposes of this LeaseThe operating expenses are initially estimated to be $2.33 per square foot ($8,733.00 per month), Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (subject to adjustment as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). hereafter provided, Landlord may invoice Tenant monthly for Tenant’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined operating expenses, provided no more than one (1) adjustment shall be permitted in Landlord’s reasonable discretioneach calendar year. Within four nine (49) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant’s account. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant’s pro rata share of the operating expenses based upon the previous year’s operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant’s pro rata share set forth in Section 1.7 shall be equal to a percentage based upon a fraction the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Project.

Appears in 1 contract

Samples: Commercial Lease (Delphax Technologies Inc)

Operating Expenses. Tenant In the event, Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1.18 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months ninety days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's accounting expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense expenses and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten twenty (20) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Office Lease (Vialog Corp)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which this Lease terminates, Landlord, prior to the termination date, shall have the option to invoice Tenant for Tenant's pro rata share of the operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio ration that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or of accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.7 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the demoninator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Consent to Assignment and Assumption of Lease (Digital River Inc /De)

Operating Expenses. Tenant In the event, Lessor’s operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of $1.18 per square foot, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenantadditional rent Lessee’s pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for TenantLessee’s pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) months ninety days following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee’s pro rata share of the excess operating expenses based upon the previous year’s accounting expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated pro rated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense expenses and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit LandlordLessor’s books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten twenty (20) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Office Lease (Ptek Holdings Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the actual operating expenses of the building during the calendar year 1996; Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operation expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due. See Item #2 of Exhibit "B" attached hereto and made a part hereof.

Appears in 1 contract

Samples: Sublease Agreement (Interactive Entertainment LTD)

Operating Expenses. If Landlord's Operating Expenses per net rentable square foot for the Property, in any calendar year during the Term of this Lease exceed the Operating Expense Base, Tenant agrees to pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s pro rata 's share of such excess operating expenses. As used herein, the term "Tenant's share of such excess Operating Expenses" means the amount by which Landlord's Operating Expenses (as hereinafter defined) for per net rentable square foot exceed the Operating Expense Base, multiplied by the net rentable square feet comprising the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord may invoice Tenant monthly for Tenant’s pro rata 's share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four one hundred twenty (4120) months days following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingSection. In the event If the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by a refund. In the event If the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provisions in this Lease, during the year in which the Lease terminates, Landlord, within one (1) year following the termination date, shall have the option to invoice Tenant for Tenant's share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit during Landlord’s 's regular business hours Landlord's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice Section. Notwithstanding anything to Landlord, but not more than once each calendar year; howeverthe contrary contained in this Lease, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00)Building is not fully occupied during any calendar year, Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent due Tenant's additional rent under this section Section within ten thirty (30) days following receipt of the invoice Invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Office Lease (FWT Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of the actual operating expenses per square foot including common area maintenance for calendar year 1993, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the express operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Commercial Lease (Learningstar Inc)

Operating Expenses. Tenant agrees to shall also pay as Additional Rent, (except during the applicable Free Rent Period) additional rent Tenant’s 's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Landlord for the Leased Premises. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%)Building. Landlord may invoice Tenant monthly for Tenant’s 's pro rata share of the estimated Operating Expenses operation expenses for each calendar year, which amount shall be adjusted each year from time-to-time by Landlord based upon reasonably anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four six (46) months following the close of each calendar year, Landlord shall provide Tenant an accounting showing in reasonable detail all the computations of Operating Expenses additional rent due under this section includingSection. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by evidence of a refundcredit to Tenant's account. In the any event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses additional rent due by Tenant under this sectionSection, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described above, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such audit. Tenant agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section Section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due. Tenant's pro rata share set forth in Section 1.8 shall, subject to reasonable adjustment by Landlord, be equal to a percentage based upon a fraction, the numerator of which is the total area of the Premises as set forth in Article 1 and the denominator of which shall be the net rentable area of the Building, as the same may change from time to time.

Appears in 1 contract

Samples: Lease (Fair Isaac & Company Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the Building and/or project of which the Leased Premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of BASE YEAR 1998, Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten thirty (30) days following receipt of the invoice or accounting showing Additional Rent additional rent due. If the additional rent due exceeds $4,500.00, Lessee may pay such amount in two equal payments with the first such payment being due within thirty (30) days after receipt of invoice and the second payment due thirty (30) days thereafter.

Appears in 1 contract

Samples: Lease Agreement (Ivg Corp)

Operating Expenses. Tenant agrees to Lessee shall also pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) the operating expenses of Lessor for the Leased Premisesbuilding and/or project of which the leased premises are a part. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four nine (49) months following the close of each calendar year, Landlord Lessor shall provide Tenant an Lessee and accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in the Lease, during the year in which this Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such the termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date such termination date bears to 365. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten days following receipt of the invoice or accounting showing Additional Rent the additional rent due. The current estimate of Lessee's share of operating expenses is Two and 95/100 Dollars ($2.95) per square foot of the Leased Premises which shall be paid in addition to and along with base rent. Lessee's prorated share of the projects operating expenses shall be 6.31%.

Appears in 1 contract

Samples: Commercial Lease Agreement (Electric Fuel Corp)

Operating Expenses. Tenant agrees (a) In addition to pay as Additional paying the Minimum Annual Rent, (except for each year ending or commencing within the Term, Tenant shall pay to Landlord, as additional Rent, Tenant’s Share of Operating Expenses to the extent that such Operating Expenses exceed the Operating Expenses incurred during the applicable Free Rent Period) Base Year. Landlord may also invoice Tenant separately from time to time for Tenant’s pro rata share Share of any extraordinary or unanticipated Operating Expenses in excess of the Base Year Operating Expenses. Each calendar year or part thereof during the Term (and as soon as practical after the expiration or termination of this Lease or, at Landlord’s option, after a sale of the Premises), Landlord shall provide Tenant with a statement of Operating Expenses (“Statement”) which shall state the Base Year Operating Expenses, the Operating Expenses actually incurred for such year (or period) just ended, Tenant’s Share thereof and the amounts, if any, paid during such year as Estimated Expenses (as hereinafter defined). Upon receipt of the Statement for each year ending during the Term, (i) for Tenant shall pay, within thirty (30) days, the Leased Premises. For purposes of this Lease, full amount by which Tenant’s pro rata share Share of Operating Expenses exceed those expenses incurred during the Base Year, less the amounts, if any, paid during such year as Estimated Expenses or (ii) if Tenant’s payments of Estimated Expenses are greater than the full amount by which Tenant’s Share of Operating Expenses exceed those expenses incurred during the Base Year, such excess shall be credited against installments of additional rent on account of Operating Expenses (or paid by Landlord to Tenant in the proportion that the Rentable Area in the Leased Premises within thirty (as set forth hereinabove30) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that days of Tenant’s receipt of such pro rata share shall equal one hundred percent (100%Statement if this Lease has terminated or expired). Landlord may invoice shall endeavor to give Tenant monthly for Tenanta yearly Operating Expense estimate statement which shall set forth Landlord’s pro rata share reasonable estimate of what the estimated total amount by which Operating Expenses for each calendar year, which amount shall be adjusted each the then-current year based upon anticipated are estimated to exceed the Base Year Operating Expenses determined in for such items and the monthly increase from the prior year’s estimated Operating Expense, if any (the “Estimated Expenses”). The failure of Landlord to timely furnish the statement of Estimated Expenses for any year shall not preclude Landlord from enforcing its rights to collect any Estimated Expenses. Following Landlord’s reasonable discretiondelivery of the statement of Estimated Expenses, Tenant shall pay, with its next installment of Minimum Annual Rent due, a fraction of the Estimated Expenses. Within four Such fraction shall have as its numerator the number of months which have elapsed in such current year to the month of such payment, both months inclusive, and shall have twelve (412) months following as its denominator. Until Estimated Expenses are furnished, Tenant shall pay monthly, with the close monthly Minimum Annual Rent installments, an amount equal to one-twelfth (1/12) of each calendar the total Estimated Expenses set forth in statement of Estimated Expenses for the previous year. If Tenant’s payment of Estimated Expenses are overstated during any year and as such, Tenant has overpaid Operating Expenses for such year as herein provided, Landlord shall provide pay to Tenant an accounting showing in reasonable detail all computations of Operating Expenses due under this section including. In the event the accounting shows that the total of the monthly payments made by Tenant exceeds the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant is less than the amount of Operating Expenses due by Tenant under this section, the accounting shall be accompanied by an invoice for the Operating Expenses due as Additional Rent. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent payable overpayment within thirty (30) days after Tenant’s receipt of the Statement or, at Landlord’s option, Landlord may credit Tenant’s account for any overpayment. (b) If Tenant does not give Landlord notice within 120 days after receiving Landlord’s Statement that Tenant disagrees with the Statement, Tenant shall be deemed to have waived the right to contest such Statement. If Tenant disagrees with such Statement, Tenant shall, pending the resolution of such dispute, nonetheless pay all of Tenant’s Share of the Annual Operating Expenses in accordance with such Statement furnished by Landlord. Tenant, at Tenant’s expense, may audit the Statement under the following conditions: (A) Tenant provides notice of its intent to audit within 90 days after receiving the Statement setting forth in reasonable detail the items in dispute; (B) the audit is performed by Tenant applicable or a certified public accountant that has not been retained on a contingency basis or other basis where its compensation relates to the year in which such termination shall occur cost savings of Tenant; (C) the audit is completed no later than 30 days after the date Landlord makes all of the necessary books and records available to Tenant or Tenant’s auditor; (D) the audit must be conducted during normal business hours; (E) the contents of the books and records of Landlord shall be prorated on kept confidential by Tenant, its auditor and its other professional advisors, other than as required by Laws or to enforce this Lease; and (F) in the ratio event that Tenant or its auditor determines that an overpayment is due Tenant, Tenant or Tenant’s auditor shall produce a detailed report addressed to both Landlord and Tenant with its calculated conclusions within 30 days after the number of days from the commencement completion of the calendar year audit. Landlord and Tenant shall work together in good faith to and including resolve any issues raised in Tenant’s audit. Upon the Expiration Date bears resolution of such dispute, any amount due Tenant (if any) shall be credited against future payments of Rent or, if no further Rent is due, such amount shall be paid to 365Tenant within 30 days after the date of such resolution. Tenant shall have the rightbe responsible for all costs, at expenses and fees incurred in connection with its own expense and within six (6) months after Tenant receives the accounting described aboveaudit; provided, to audit Landlord’s books relevant to the Additional Rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, Landlord shall reimburse Tenant for the costs, expenses and fees in an amount not to exceed Five Thousand Dollars ($5,000.00) if the such audit correctly discloses an overpayment reveals that Landlord has overstated Operating Expenses by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or more. Landlord’s obligation to deliver Statements, Landlord’s and Tenant’s obligation to pay any overpayment or deficiency due the other pursuant to this Section and Tenant’s examination rights set forth in this subsection (b) Five Hundred and No/100 Dollars shall survive the expiration or termination of this Lease. ($500.00)c) If the Building is not fully occupied during any period, including, without limitation the Base Year, Landlord shall pay make a reasonable adjustment based on occupancy in computing the Operating Expenses for such period so that Operating Expenses are computed as though the Building had been fully occupied. Operating Expenses for the reasonable cost Base Year only shall not include costs incurred due to extraordinary circumstances or other non-recurring charges, including market-wide labor rate increases due to boycotts and strikes; utility rate increases due to extraordinary circumstances or other non-recurring charges, including conservation surcharges, boycotts, embargos or other shortages; insurance deductibles; or amortized costs relating to capital improvements. Operating Expenses that cover a period of such audit. Tenant agrees to keep time not entirely within the results of any audit strictly confidential and pay any Additional Rent due under this section within ten days following receipt Term of the invoice or accounting showing Additional Rent dueLease shall be prorated based on the actual number of days in the year.

Appears in 1 contract

Samples: Lease Agreement (INSMED Inc)

Operating Expenses. Tenant In the event Lessor's operating expenses for the building and/or project of which the leased premises are a part shall, in any calendar year during the term of this Lease, exceed the sum of the actual 1995 Base Year Operating Expenses (the "Base Year Expense Stop"), Lessee agrees to pay as Additional Rent, (except during the applicable Free Rent Period) Tenant’s additional rent Lessee's pro rata share of Operating Expenses (as hereinafter defined) for the Leased Premisessuch excess operating expenses. For purposes of this Lease, Tenant’s pro rata share of Operating Expenses shall be paid by Tenant in the proportion that the Rentable Area in the Leased Premises (as set forth hereinabove) bears to the total Rentable Area in Unit A and Landlord and Tenant agree that such pro rata share shall equal one hundred percent (100%). Landlord Lessor may invoice Tenant Lessee monthly for Tenant’s Lessee's pro rata share of the estimated Operating Expenses operating expenses for each calendar year, which amount shall be adjusted each year based upon anticipated Operating Expenses determined in Landlord’s reasonable discretionoperating expenses. Within four (4) nine months following the close of each calendar year, Landlord Lessor shall provide Tenant Lessee an accounting showing in reasonable detail all computations of Operating Expenses additional rent due under this section includingsection. In the event the accounting shows that the total of the monthly payments made by Tenant the Lessee exceeds the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting shall be accompanied by a refund. In the event the accounting shows that the total of the monthly payments made by Tenant Lessee is less than the amount of Operating Expenses additional rent due by Tenant Lessee under this section, the accounting account shall be accompanied by an invoice for the Operating Expenses due as Additional Rentadditional rent. Notwithstanding any other provision in this Lease, during the year in which the Lease terminates, Lessor, prior to the termination date, shall have the option to invoice Lessee for Lessee's pro rata share of the excess operating expenses based upon the previous year's operating expenses. If this Lease shall terminate on a day other than the last day of a calendar year, the amount of any Additional Rent additional rent payable by Tenant Lessee applicable to the year in which such termination shall occur shall be prorated on the ratio that the number of days from the commencement of the calendar year to and including the Expiration Date bears termination date and its relationship to three hundred sixty-five (365) days. Tenant Lessee shall have the right, at its own expense and within six (6) months after Tenant receives the accounting described abovea reasonable time, to audit Landlord’s Lessor's books relevant to the Additional Rent additional rent payable under this section upon reasonable notice to Landlord, but not more than once each calendar year; however, if the audit correctly discloses an overpayment by Tenant of more than the greater of (a) five percent (5%) of Operating Expenses or (b) Five Hundred and No/100 Dollars ($500.00), Landlord shall pay for the reasonable cost of such auditsection. Tenant Lessee agrees to keep the results of any audit strictly confidential and pay any Additional Rent additional rent due under this section within ten (10) days following receipt of the invoice or accounting showing Additional Rent additional rent due.

Appears in 1 contract

Samples: Standard Office Showroom/Warehouse Commercial Lease (Bollinger Industries Inc)

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