Common use of Payment of Estimated Operating Clause in Contracts

Payment of Estimated Operating. Cost Share ----------------------------------------- Rent and Tax Share Rent. Landlord shall estimate the Operating Costs ----------------------- and Taxes of the Project by April 1 of each fiscal year, or as soon as reasonably possible thereafter. Landlord may revise these estimates whenever it obtains more accurate information, such as the final real estate tax assessment or tax rate for the Project. Within ten (10) days after receiving the original or revised estimate from Landlord, Tenant shall pay Landlord one-twelfth (1/12th) of Tenant's Proportionate Share of this estimate, multiplied by the number of months that have elapsed in the applicable fiscal year to the date of such payment including the current month, minus payments previously made by Tenant for the months elapsed. On the first day of each month thereafter, Tenant shall pay Landlord one-twelfth (l/12th) of Tenant's Proportionate Share of this estimate, until a new estimate becomes applicable.

Payment of Estimated Operating. Cost Share ----------------------------------------- Rent and Tax Share ------------------------------------------------------------ Rent. Landlord shall provide Tenant with a written estimate of the ---- Operating Costs ----------------------- and Taxes of the Project by April 1 of each fiscal year, or as soon as reasonably possible thereafter. Landlord may revise these estimates whenever it obtains more accurate information, such as the final real estate tax assessment or tax rate for the Project. Within ten (10) days after receiving the original or revised estimate from Landlord, Tenant shall pay Landlord one-twelfth (1/12th) of Tenant's Proportionate Share of this estimate, multiplied by the number of months that have elapsed in the applicable fiscal year to the date of such payment including the current month, minus payments previously made by Tenant for the months elapsed. On the first day of each month thereafter, Tenant shall pay Landlord one-twelfth (l/12th1/12th) of Tenant's Proportionate Share of this estimate, until a new estimate becomes applicable.

Payment of Estimated Operating. Cost Share ----------------------------------------- Rent and Tax ------------------------------------------------------ Share Rent. Landlord shall estimate the Operating Costs ----------------------- and Taxes ---------- of the Project by April 1 of each fiscal year, or as soon as reasonably possible thereafter. Landlord may revise these estimates whenever it obtains more accurate information, such as the final real estate tax assessment or tax rate for the Project. Within ten twenty (1020) days after receiving the original or revised estimate from Landlord, Tenant shall pay Landlord one-twelfth (1/12th) of Tenant's Proportionate Share of this estimate, multiplied by the number of months that have elapsed in the applicable fiscal year to the date of such payment including the current month, minus payments previously made by Tenant for the months elapsed. On the first day of each month thereafter, Tenant shall pay Landlord one-twelfth (l/12th1/12th) of Tenant's Proportionate Share of this estimate, until a new estimate becomes applicable.