Common use of Payment of Common Area Expenses Clause in Contracts

Payment of Common Area Expenses. Landlord shall furnish to Tenant a written statement setting forth Landlord’s reasonable estimate of Tenant’s Proportionate Share of Common Area Expenses for the balance of the calendar year in which the date hereof occurs. During each calendar year thereafter, Landlord shall furnish to Tenant written statement setting forth Landlord’s reasonable estimate of Tenant’s Proportionate Share of Common Area Expenses for that calendar year. Tenant shall pay to Landlord on the first day of each month during the Term, an amount equal to one-twelfth (1/12) of Landlord’s estimate of Tenant’s Proportionate Share of Common Area Expenses for that calendar year or partial calendar year, as the case may be. After the end of each calendar year or partial calendar year, Landlord shall furnish to Tenant a statement (the “Actual CAE Statement”) setting forth the actual Common Area Expenses and computing Tenant’s Proportionate Share of such Common Area Expenses. If the Actual CAE Statement shows that the sums paid by Tenant exceed Tenant’s Proportionate Share of Common Area Expenses, Landlord shall at Landlord’s option either refund to Tenant the amount of such excess or permit Tenant to credit the amount thereof against subsequent payments of Common Area Expenses under this Article 5. If the Actual CAE Statement shows that the sums paid by Tenant were less than Tenant’s Proportionate Share of Common Area Expenses, Tenant shall pay the amount of such deficiency within twenty (20) days after demand therefor. Upon the expiration or earlier termination of this Lease (except for termination resulting from Tenant’s default), Tenant’s Proportionate Share of Common Area Expenses shall be appropriately prorated to reflect Common Area Expenses which are due through the expiration or termination date. This provision shall survive the expiration or earlier termination of this Lease. Landlord shall have the right to use a twelve (12) month period other than a calendar year to calculate Tenant’s Proportionate Share of Common Area Expenses.

Payment of Common Area Expenses. Landlord shall furnish to Tenant a written statement setting forth Landlord’s reasonable estimate Commencing on the Rental Commencement Date and thereafter on the first (1st) day of Tenant’s Proportionate Share of Common Area Expenses for the balance each calendar month of the calendar year in which the date hereof occurs. During each calendar year thereafterLease Term, Landlord shall furnish to Tenant written statement setting forth Landlord’s reasonable estimate of Tenant’s Proportionate Share of Common Area Expenses for that calendar year. Tenant shall pay to Landlord on the first day of each month during the Term, an amount equal to one-twelfth (1/12) of Landlord’s estimate an amount estimated by Landlord to be Tenant's share of Tenant’s Proportionate Share of such total annual Common Area Expenses for that the ensuing calendar year or partial calendar year, as balance thereof. Landlord may adjust the case may be. After Common Area Expenses charged to Tenant at the end of each any calendar year on the basis of Landlord's experience and reasonably anticipated costs and a reasonable reserve for unanticipated expenses. On or partial before April 1 of each calendar year, Landlord shall furnish to Tenant a statement (covering the “Actual CAE Statement”) setting forth calendar year just expired showing the actual total Common Area Expenses and computing for the preceding calendar year, the amount of Tenant’s Proportionate Share 's share of such Common Area Expenses, and the payments made by Tenant with respect to such calendar year as set forth above. If the Actual CAE Statement shows that the sums paid by Tenant exceed Tenant’s Proportionate Share of Common Area Expenses, Landlord shall at Landlord’s option either refund to Tenant the amount 's share of such excess or permit Tenant to credit the amount thereof against subsequent payments of Common Area Expenses under this Article 5. If the Actual CAE Statement shows that the sums paid by Tenant were less than exceeds Tenant’s Proportionate Share of Common Area Expenses's payments so made, Tenant shall pay Landlord the amount of such deficiency within twenty (20) days after demand thereforreceipt of Landlord's statement. Upon the expiration or earlier termination If Tenant's payments exceed Tenant's share of this Lease (except for termination resulting from Tenant’s default), Tenant’s Proportionate Share of such Common Area Expenses Expenses, Landlord shall pay such excess to Tenant within twenty (20) days of Landlord's delivery of such statement. Failure of Tenant to pay any of the charges required by this Article to be appropriately prorated to reflect Common Area Expenses which are paid when due through shall constitute a material default under the expiration or termination date. This provision shall survive the expiration or earlier termination terms of this Lease. If Tenant fails to give Landlord shall have the right written notice that Tenant objects to use a twelve (12) month period other than a calendar year to calculate Tenant’s Proportionate Share of any Common Area Expenses, taxes or insurance within one (1) year after Tenant receives Landlord's annual statement of such expenses, Tenant shall be deemed to have conclusively accepted such statement as correct and to have waived any and all rights at law or in equity to object to the Common Area Expenses, including taxes or insurance, set forth in such statement.

Payment of Common Area Expenses. Landlord shall furnish Pursuant to Tenant a written statement setting forth Landlord’s reasonable estimate of Tenant’s Proportionate Share of Common Area Expenses for the balance of the calendar year in which the date hereof occurs. During each calendar year thereafterArticle 4, Landlord shall furnish to Tenant written statement setting forth Landlord’s reasonable estimate of Tenant’s Proportionate Share of Common Area Expenses for that calendar year. Tenant shall pay to Landlord on Tenant’s Pro Rata Share of all expenses incurred by Landlord in connection with the first day maintenance and operation of each month during the TermCommon Areas together with Tenant’s Pro Rata Share of the reasonable management fees Landlord pays to the manager of thE movE, an amount equal and a reasonable allowance for Landlord’s overhead costs not to exceed two and one-twelfth half percent (1/122.5%) of Landlord’s estimate of Tenant’s Proportionate Share the costs described in this Section 8.04 (collectively “Common Area Expenses” or “CAM”). Payment of Common Area Expenses shall be made in accordance with the provisions of this paragraph (and following applicable paragraphs). Notwithstanding the foregoing, Operating Costs shall not include: costs of a capital nature except as provided in Section 8.04(e); costs resulting from the gross negligence or willful misconduct of Landlord, its employees, agents and/or contractors; penalties or costs for that late payment or violations of leases, agreements, tax obligations, or other legal obligations of Landlord costs related to validated parking programs; legal, auditing, consulting, brokerage or other professional fees paid or incurred in connection with negotiations or disputes related to financings, refinancing, development, construction, leasing or sales of thE movE or any portion thereof; services, items and benefits for which Tenant or any other tenant or occupant of thE movE specifically reimburses Landlord or for which Tenant or any other tenant or occupant of thE movE pays third persons; tenant allowance or concessions incurred in completing, fixturing, furnishing, renovating or otherwise improving, decorating or redecorating space for tenants or other occupants of thE movE, or vacant, leasable space in thE movE; cost of work performed exclusively for any other tenant in thE movE; work performed on other properties by employees of Landlord or Landlord’s agents; any other costs incurred by Landlord its employees or agents to the extent not for the benefit of thE movE or otherwise not fairly and equitably allocable to thE movE in accordance with generally accepted accounting principles and sound property management practices. Landlord agrees to limit Tenant’s controllable Common Area Expense increases to no more than one hundred five percent (105%) of the Common Area Expenses of the prior calendar year or partial calendar year(calculated on a cumulative basis). Controllable Common Area Expenses are all costs included in Additional Rent with the exception of costs of snow and ice removal from Building Common Areas such as Building sidewalks, entry ways and other adjacent areas, costs of water, sewer, electricity, natural gas and other Building utilities, taxes, to include any association fees, charges and assessments and insurance. (a) Tenant’s pro rata share of CAM (“Tenant’s Common Area Share”) shall be that portion of all of such estimated expenses that is equal to the proportion thereof which the Floor Area of the Premises bears to the Floor Area of the Building. (b) From and after the Lease Commencement Date, but subject to adjustment as provided in subsection 8.04(c), Tenant shall pay to Landlord concurrently with the case may be. After monthly installments of Minimum Rent payable pursuant to paragraph 4.01 above, an amount estimated by Landlord to be Tenant’s Common Area Share for such month. (c) Within thirty (30) days following the end of each calendar year or partial calendar yearquarter, Landlord shall furnish to Tenant a statement (covering the “Actual CAE Statement”) setting forth calendar quarter, certified as correct by an authorized representative of Landlord, showing the actual amount of Tenant’s Common Area Expenses Share for such calendar quarter and computing the payments made by Tenant with respect to such period pursuant to subsection 8.04(b). If Tenant’s Proportionate Common Area Share exceeds Tenant’s payments during such calendar quarter, Tenant shall pay Landlord the deficiency within thirty (30) days after receipt of such Common Area Expensesstatement. If the Actual CAE Statement shows that the sums paid by Tenant said payments exceed Tenant’s Proportionate Share of Common Area ExpensesShare, Landlord the excess shall at Landlord’s option either refund be credited against the next due Additional Rent payment or paid to Tenant if the amount of such excess Lease Term has then ended. (d) If Tenant disputes an adjustment submitted by Landlord or permit Tenant to credit a proposed increase or decrease in the amount thereof against subsequent payments of Common Area Expenses under this Article 5. If the Actual CAE Statement shows that the sums paid by Tenant were less than Tenant’s Proportionate Share of Common Area Expenses, Tenant shall give Landlord notice of such dispute within thirty (30) days after Tenant’s receipt of the adjustment. If Tenant does not give Landlord timely notice, Tenant waives its right to dispute the particular adjustment. If Tenant timely objects, Tenant may engage its own certified public accountants (“Tenant’s Accountants”) to verify the accuracy of the statement complained of or the reasonableness of the estimated increase or decrease. Tenant’s Accountants shall be required to enter into a reasonable confidentiality agreement satisfactory to Landlord. If Tenant’s Accountants determine that an error has been made, Landlord’s Accountants and Tenant’s Accountants shall endeavor to agree upon the corrective measures for same, failing which, such matter shall be submitted to an independent certified public accountant selected by Landlord and Tenant for a determination which will be conclusive and binding upon Landlord and Tenant. Notwithstanding the foregoing, should Tenant be successful in disputing Landlord’s proposed Common Area Expense charges Landlord shall be responsible for Tenant’s costs incurred in the action in an amount that is equal to the lesser of the amount found to be in error in the most recent year or $750 and should Tenant’s claim fail Tenant shall be responsible to Landlord to Landlord’s costs associated with defending the action in an amount not to exceed $750. Such costs shall be refunded to Tenant should it be determined that Landlord’s proposed increase or decrease was in error. Notwithstanding the pendency of any dispute, Tenant shall continue to pay Landlord the amount of such deficiency within twenty (20) days after demand thereforthe Estimated Payment or adjustment determined by Landlord’s Accountants until the adjustment has been determined to be incorrect. Upon If it is determined that any portion of the expiration or earlier termination of this Lease (except for termination resulting from Tenant’s default), Tenant’s Proportionate Share of Common Area Expenses shall be appropriately prorated were not properly chargeable to reflect Common Area Expenses which are due through the expiration or termination date. This provision shall survive the expiration or earlier termination of this Lease. Tenant, Landlord shall have credit the right overage against the next due Additional Rent or refund the appropriate sum to use a twelve Tenant. (12e) month period other than a calendar year Operating Costs may not include capital improvements and structural repairs and replacements to calculate Tenant’s Proportionate Share the Building and the Common Areas to conform to changes subsequent to the date of Common Area Expensesissuance of the shell and core certificate of occupancy for the Building in any Applicable Laws (herein “Required Capital Improvements”); and the costs of any capital improvements and structural repairs and replacements designed primarily to reduce Operating Expenses (herein “Cost Savings Improvements”).