Overage Rents. (a) With respect to any Lease that provides for the payment of (i) additional rents which are calculated as a percentage of the tenant's sales or gross sales (net of certain agreed-upon deductions), (ii) so-called common area maintenance or "cam" charges, (ii) so-called "escalation rent" or additional rent based upon increases in real estate taxes or operating expenses or labor costs or cost of living or xxxxxx'x wages or otherwise (such percentage rent, cam charges, escalation rent and additional rent being collectively called "OVERAGE RENTS"), such Overage Rents shall be adjusted and prorated on an if, as and when collected basis.
Overage Rents. The following proration principles shall apply to the proration of overage rents, which shall include percentage rents, consumer price index escalation payments and other similar rental payments in excess of fixed, minimum and base rents under the Leases, whether finally determined before or after the expiration of the relevant fiscal years under the respective Leases. Overage rents shall be separately prorated under each Lease on the basis of the fiscal year set forth in such Lease for the payment of overage rents. All interim overage rent payments made before the Closing Date shall be retained by Seller until year-end adjustment and determination of Seller's allocable share thereof, except that interim payments received by either party for the month in which the Closing Date occurs shall be prorated between Seller and Buyer based upon the number of days in that month occurring prior to the Closing Date, and the party receiving the interim payment shall remit to or credit, as the case may be, the other party its proportionate share for such month. All amounts received by Buyer on or after the Closing Date as interim payments of overage rents shall be retained by Buyer until year-end adjustment and determination of Seller's allocable share thereof. Upon final determination of overage rents collected from a tenant for the fiscal year under its Lease in which the Closing Date occurs, Seller and Buyer shall adjust between themselves amounts collected for such fiscal year on account of overage rents, and Seller's allocable share of such overage rents shall be equal to an amount determined by multiplying total overage rents collected for such fiscal year by a fraction whose numerator is the number of days in such fiscal year before the Closing Date, and whose denominator is the total number of days in such fiscal year. Buyer shall furnish Seller with financial statements and work sheets, to the extent received from the tenant, indicating the sales and percentage rent figures for each tenant for all relevant periods. Within fifteen (15) days after final determination and collection of overage rents collected from any tenant for the fiscal year in which the Closing Date occurs, Buyer shall remit to Seller its allocable share, less interim payments previously retained by Seller, if any. If Seller has retained amounts in excess of its allocable share, Seller, within fifteen (15) days after notice from Buyer of the excess owed Buyer, remit such excess to Buyer. Any ...
Overage Rents. Overage rents to be prorated hereunder shall include, but not be limited to, percentage rents, consumer price index escalation payments and other similar rental payments in excess of fixed, minimum and base rents under the Leases, whether finally determined before or after the expiration of the fiscal years under various Leases. Overage rents shall be separately prorated under each Lease on the basis of the fiscal year set forth in each Lease for the payment of overage rents. All interim overage rent payments made before the Closing Date shall be retained by Seller until year-end adjustment and determination of Seller's allocable share thereof, except that interim payments received by either party for the month in which the Closing Date occurs shall be prorated as between Seller and Buyer based upon the number of days in that month occurring before the Closing Date, and the party receiving the interim payment shall remit to (if received on or after the Closing Date) or credit (if received before the Closing Date) the other party its proportionate share. All amounts received by Buyer on or after the Closing Date as interim payments of overage rents shall be retained by Buyer until year-end adjustment and determination of Seller's allocable share thereof, except to the extent provided in Section 5.11
Overage Rents. (a) With respect to any Lease that provides for the payment of (i) so-called common area maintenance or “cam” charges or (ii) so-called “escalation rent” or additional rent based upon increases in real estate taxes or operating expenses or labor costs or cost of living or xxxxxx’x wages or otherwise (such cam charges, escalation rent and additional rent being collectively called “Overage Rents”), such Overage Rents shall be adjusted and prorated on an if, as and when collected basis.
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Overage Rents. (a) With respect to any Space Lease that provides for (ii) so-called common area maintenance or "CAM" charges or (iii) so-called "ESCALATION RENT" or additional rent based upon increases in real estate taxes or operating expenses or labor costs or cost of living or xxxxxx'x wages or otherwise (such percentage rent, CAM charges, escalation rent and additional rent being collectively called "OVERAGE RENT"), such Overage Rent shall be adjusted and prorated on an if, as and when collected basis.
Overage Rents. As defined in Section 6(c) hereof.
Overage Rents. Overage Rents (as that term is hereinafter defined) will be separately prorated under each Lease on the basis of the fiscal period set forth in each Lease for the payment of such Overage Rents. Any Overage Rents received by Seller or Buyer before or after the date of closing will be retained by the recipient of such payments, pending a final reconciliation based upon the actual Overage Rents owed for any fiscal period which includes the date of closing. Buyer will make the final reconciliation at the time and in the manner required under the terms of each Lease. Within 30 days after the completion of each such final reconciliation, Buyer will provide written notice to Seller of the amount of such final reconciliation and the portion of the actual Overage Rents for the subject tenant which are attributable to the period prior to the date of closing. If Buyer actually collects Overage Rents from any tenant under any Lease, which, when added to all estimated, periodic Overage Rents collected from such tenant by Buyer after the date of closing (but which are attributable to the fiscal period for which such final reconciliation is being made), exceed the amount of the Tenant's actual Overage Rent obligation for the portion of the subject fiscal period falling after the date of closing, then Buyer will, within 30 days after its collection of such Overage Rents, pay to Seller the amount of such excess.
Overage Rents. (i) With respect to any Lease of all or any portion of the Contributor Properties that provides for so-called common area maintenance or "cam" charges, or provides for so-called "escalation rent", "operating cost pass-throughs" or "expense reimbursements" based upon increases in real estate taxes or operating expenses or labor costs or cost of living or xxxxxx'x wages or otherwise, or provides for the tenant to make additional rent payments based upon real estate taxes or operating expenses (such cam charges, additional rent, escalation rent, operating cost pass-throughs and expense reimbursements being collectively called "Overage Rent"), such Overage Rent shall be adjusted and prorated on an if, as and when collected basis as provided in this Section 4(b). For purposes of this subsection (b), any Overage Rents with respect to the Nomura Properties which have been deposited into the Deposit Account (as such term is defined in the Nomura Loan Documents) prior to the Closing Date shall be deemed to have been received by or on behalf of Contributor, and any such Fixed Rents which have been deposited into the Deposit Account from and after the Closing shall be deemed to have been received by or on behalf of Contributee.
Overage Rents. Overage Rents shall be separately prorated as of the Adjustment Time in the manner provided in this Section 6.4.3. Such proration shall be made on a Tenant Lease-by-Tenant Lease basis and shall be based upon the total annual Overage Rents due under each Tenant Lease for the calendar year or the appropriate fiscal year as applicable under such Tenant Lease. The actual fiscal year for Overage Rents under each Tenant Lease during which the Closing occurs is hereinafter referred to as the "Applicable Overage Rent Year." Non-delinquent Overage Rent collections for the month in which Closing occurs shall be prorated in the same manner as other Rents. Subject to the preceding sentence, to the extent a Tenant makes advance monthly installments or other interim payments on account of projected
