PAYMENT OF COMMON AREA CHARGES. Tenant's share of CAM Charges for each month of the calendar year in which the Commencement Date occurs is estimated to be the amount specified as Initial CAM Charges in the Basic Lease Information, which amount is payable monthly by Tenant to Landlord on the same dates as and in addition to the Minimum Rent that is due during such calendar year. Following the calendar year in which the Commencement Date occurs, Tenant shall pay to Landlord, at the same time as and in addition to each installment of the Minimum Rent, Landlord's estimate of Tenant's share of CAM Charges for the then current calendar month, or, if Tenant has not been notified of such estimate, then Tenant shall pay the most recent available estimate by Landlord of Tenant's share of CAM Charges for a full calendar month. Landlord shall determine Tenant's share of the actual CAM Charges incurred for every calendar year or partial calendar year during the Lease Term within one hundred twenty days (or such additional time as may be required) after the close of such year, and Landlord will deliver a statement to Tenant setting out the calculation. Within ten days from Tenant's receipt from Landlord of such statement, Tenant shall pay Landlord the excess, if any, of Tenant's share of the actual CAM Charges shown therein over the estimated amount theretofore paid by Tenant for such period. If, however, Tenant's share of the actual CAM Charges for the applicable calendar year or partial calendar year is less than the estimated amount theretofore paid by Tenant, the excess share of CAM Charges paid by Tenant shall (i) be credited against the next maturing installments of additional rental due from Tenant (but not against Minimum Rent), and (ii) to the extent not offset against amounts then due or to be due in the future from Tenant under this Lease, be refunded by Landlord to Tenant.
PAYMENT OF COMMON AREA CHARGES. Common area charges shall be paid by Tenant in monthly installments on the first day of each month, in advance, in an amount estimated by Landlord. From time to time, but no less often than once each Lease Year, Landlord shall furnish Tenant a statement in reasonable detail of the actual common area operating costs and expenses paid or incurred by Landlord during such period, prepared in accordance with sound accounting principles. Tenant shall pay within 15 days after billing the deficiency, if any, between Tenant's actual pro rata share of common area costs and the amounts paid by Tenant, and in the event of any overpayment by Tenant, Landlord shall credit the overpayment to Tenant's future rental obligations under this Lease to the end that Landlord shall receive the entire amount of Tenant's pro rata share of such costs and expenses for such period and no more. Landlord's books and records compiled with respect to Landlord's common area expenses shall be subject to audit on 10 days notice by Tenant, provided that no such audit shall occur during the months of January through April and no more than one audit shall be allowed for any calendar year. Landlord agrees to cooperate with any such audit and shall maintain complete books and records in accordance with generally accepted accounting principles, consistently applied for the same period as required for federal income tax reporting purposes. Such audit(s) shall take place within three (3) years after such charges are due in accordance with the terms hereof. If it shall be determined as a result of such audit(s) that Tenant has overpaid any of such charges, Landlord shall promptly refund to Tenant the amount of such overpayment. Landlord agrees to provide Tenant with copies of documentation and calculations relating the common area charges assessed to Tenant, provided that Tenant pays a reasonable copying charge for the same. Such information shall be retained in confidence by Tenant.
PAYMENT OF COMMON AREA CHARGES. Prior to the commencement of each calendar year of this Lease, Landlord may give Tenant a written estimate of Tenant's pro rata share of Common Area charges for the ensuing year. Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance, as part of the same check with which Tenant pays the monthly minimum rent. If Landlord so estimates, Landlord shall furnish to Tenant a statement showing the Common Area charges incurred by Landlord for the previous year for the operation and maintenance of the Common Areas during such year indicating any additional amounts due from Tenant or credit due from Landlord. Tenant shall, within thirty (30) days of receipt of such statement, make any payment necessary. If Landlord elects not to so estimate, Tenant shall pay its share of such Common Area charges at such intervals as Landlord may elect to xxxx Tenant. Landlord's failure to submit statements as called for herein shall not be deemed to be a waiver of Tenant's requirement to pay sums as herein provided. ARTICLE XV—
