PAYMENT OF OPERATING EXPENSE Sample Clauses

PAYMENT OF OPERATING EXPENSE. Tenant's pro rata share of the Shopping Center Operating Expense and Mall HVAC Charge shall be paid as Additional Rental and Tenant agrees to pay such Additional Rent in advance in monthly installments on the first (1st) day of each calendar month, based upon Landlord's estimates of the Shopping Center Operating Expense and Mall HVAC Charge as set forth in annual statements during the term of this Lease (or such other periodic intervals as shall be determined by Landlord). Within one hundred twenty (120) days after the end of each calendar year during the term hereof, Landlord shall furnish to Tenant a statement in reasonable detail setting forth the computation of actual Shopping Center Operating Expense and Mall HVAC Charge (as allocated by Landlord for purposes of Sections 8.3 and 8.4 of this Lease) for such calendar year, and thereupon there shall be within thirty (30) days thereafter an adjustment between Landlord and Tenant, with payment to, or repayment by, Landlord, as the case may require, to the end that Landlord shall receive the entire amount of Tenant's pro rata share of said Shopping Center Operating Expense and Mall HVAC Charge for such calendar year, and no more.
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PAYMENT OF OPERATING EXPENSE. Tenant agrees to pay Landlord, as additional rent, in the manner hereinafter provided, Tenant's Share of the Operating Expenses; Tenant's Share thereof being the Operating Expenses multiplied by a fraction, the numerator of which is the number of square feet in the Premises and the denominator of which is the total number of square feet leasable to tenants of the Shopping Center. The additional rent agreed to be paid by Tenant to Landlord pursuant to this Lease shall be estimated by Landlord at the beginning of each Lease Year and paid monthly by Tenant to Landlord based upon the Operating Expenses for the preceding Lease Year; each such monthly payment to equal one-twelfth (1/12) of Tenant's proportionate share of the Operating Expenses for the preceding Lease Year. At the end of each Lease Year Landlord shall compute the Operating Expenses for such period of time and compute Tenant's proportionate share thereof. Having done so, Landlord shall invoice Tenant thereof, deducting therefrom the amount paid by Tenant during the preceding period of time. Should Tenant owe any additional sum as evidenced by such invoice, the amount thereof shall be paid to Landlord by Tenant within (10) ten days after receipt of such invoice by Tenant. Conversely, should the invoice reflect an overpayment by Tenant to Landlord during the preceding period, the amount of such overpayment shall be deducted from the next monthly payments due from Tenant to Landlord pursuant to this section. In addition, simultaneously with the giving of the above referenced invoice, Landlord shall advise Tenant of the estimated monthly amount due by Tenant to Landlord during the next twelve (12) months period.
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Related to PAYMENT OF OPERATING EXPENSE

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • Duration of Operating Expense Limit The Operating Expense Limit with respect to the Fund shall remain in effect during the term of this Agreement.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

  • Statement of Operations Statement of Changes in Net Assets.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • Operating Expense Payments Landlord shall deliver to Tenant a written estimate of Operating Expenses for each calendar year during the Term (the “Annual Estimate”), which may be revised by Landlord from time to time during such calendar year. During each month of the Term, on the same date that Base Rent is due, Tenant shall pay Landlord an amount equal to 1/12th of Tenant’s Share of the Annual Estimate. Payments for any fractional calendar month shall be prorated.

  • PERIOD OF OPERATION Subject to certification, this Agreement shall come into force from the first pay period commencing on or after 1st December 2002 and shall remain in force until 31 October 2005.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

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