Common use of Payment and Adjustments of Common Costs Clause in Contracts

Payment and Adjustments of Common Costs. The Sublessee will pay its Proportionate Share of the estimated Common Costs for each Lease Year on a monthly basis in advance during each Lease Year. Within a reasonable time period following the end of each Lease Year, the Homeowners Corporation (or the Sublessor to the extent that the Sublessor bills the Sublessee for such costs) will advise the Sublessee in writing of the actual amount of the Common Costs for the Lease Year and the actual amount required to be paid as the Sublessee’s Proportionate Share of the Common Costs for the Lease Year. In the event that the actual Common Costs for such Lease Year are less than the Common Costs that had been estimated by the Homeowners Corporation or the Sublessor, the overpayment by the Sublessee shall be applied to the Common Costs payable to the Homeowners Corporation or the Sublessor, as the case may be, for the next Lease Year. In the event the actual Common Costs for such Lease Year are greater than the Common Costs that had been estimated by the Homeowners Corporation or the Sublessor, the Homeowners Corporation or the Sublessor shall have the right to either include the amounts in the Common Costs for the upcoming Lease Year or assess the Sublessees for the shortfall, and the Sublessee shall pay such additional amounts at the time or times required by the Homeowners Corporation or the Sublessor.

Payment and Adjustments of Common Costs. The Sublessee will pay its Proportionate Share of the estimated Common Costs for each Lease Year on a monthly basis in advance during each Lease Year. Within a reasonable time period following the end of each Lease Year, the Homeowners Corporation (or the Sublessor prior to the Completion Date or to the extent that the Sublessor otherwise bills the Sublessee for such costs) will advise the Sublessee in writing of the actual amount of the Common Costs for the Lease Year and the actual amount required to be paid as the Sublessee’s Proportionate Share of the Common Costs for the Lease Year. In the event that the actual Common Costs for such Lease Year are less than the Common Costs that had been estimated by the Homeowners Corporation or the Sublessor, the overpayment by the Sublessee shall be applied to the Common Costs payable to the Homeowners Corporation or the Sublessor, as the case may be, for the next Lease Year. In the event the actual Common Costs for such Lease Year are greater than the Common Costs that had been estimated by the Homeowners Corporation or the Sublessor, the Homeowners Corporation or the Sublessor shall have the right to either include the amounts in the Common Costs for the upcoming Lease Year or assess the Sublessees for the shortfall, and the Sublessee shall pay such additional amounts at the time or times required by the Homeowners Corporation or the Sublessor.