Common use of Payment of Tenant’s Proportionate Share Clause in Contracts

Payment of Tenant’s Proportionate Share. (a) The Operating Costs may be estimated by the Landlord for a period no greater than 12 months and the Tenant shall pay to the Landlord as Additional Rent, one-twelfth of such estimated payments in advance during such period together with the monthly instalments of Minimum Rent. Despite the foregoing, as soon as bills for all or any portion of the said amounts are received, the Landlord may bxxx the Tenant for its relevant share of the said amounts (less all amounts previously paid by the Tenant on the basis of the Landlord’s estimate which have not already been so applied) and the Tenant shall pay the Landlord such amount as Additional Rent on demand. (b) Following the end of the period for which such estimated payments have been made, the Landlord will deliver to the Tenant a statement (the “Statement”) containing: (i) reasonable particulars of the actual Operating Costs and the Real Property Taxes for such period; (ii) the Tenant’s Proportionate Share of the Operating Costs; (iii) a statement of the Real Property Taxes payable by the Tenant pursuant to section 6.3; and (iv) the Utilities payable by the Tenant pursuant to section 7.1(c). The Landlord shall use reasonable efforts to deliver the Statement to the Tenant within 120 days following the end of the relevant period, but its failure to do so will not preclude the Landlord from subsequently delivering the Statement and from making any necessary adjustments. After the delivery of a Statement, the Landlord may subsequently render supplemental statements if it subsequently discovers errors or omissions in the amounts previously charged to the Tenant or if there are any changes to the Real Property Taxes and the parties shall make the appropriate adjustment in the same manner as set out in section 5.2(c). (c) If the Statement shows that the Tenant has paid: (i) more than the amount actually payable by it (the difference being called the “Excess”), then, provided the Tenant is not in default of any of the Tenant’s Covenants, the Excess will be applied by the Landlord against the next succeeding instalments of the Operating Costs and Real Property Taxes payable by the Tenant. If there is any Excess for the last year of the Term, the Excess will be refunded by the Landlord to the Tenant at the same time as the Landlord delivers the Statement for the last year of the Term, provided the Tenant is not in default of any of the Tenant’s Covenants. If the Tenant is in default of any of the Tenant’s Covenants, then the Landlord shall hold the Excess until such time as the default is rectified. If the default is a rental default, the Landlord may apply the Excess against the Rent in arrears. If the default is not a rental default, the Landlord may apply the Excess against the costs incurred by the Landlord if the Landlord elects to rectify the default, in whole or in part. Upon the default being rectified, the Landlord will either apply the Excess against the next succeeding instalments of the Operating Costs and Real Property payable to the Landlord or refund any remaining amount of the Excess to the Tenant; or (ii) less than the amount actually payable by it (the difference being called the “Deficiency”), the Tenant shall pay the Deficiency within 15 days following the date it receives the Statement from the Landlord. (d) The Tenant has 60 days from the date that the Landlord delivers the Statement to the Tenant to deliver to the Landlord written notice setting out in detail any objections it may have to the Statement and the reasons therefor, failing which the Tenant will be deemed to have accepted the Statement which will then be conclusive and binding upon the Tenant.

Payment of Tenant’s Proportionate Share. (a) The Operating Costs may be estimated by the Landlord for a period no greater than 12 [*****] months and the Tenant shall pay to the Landlord as Additional Rent, one-twelfth [*****] of such estimated payments in advance during such period together with the monthly instalments of Minimum Rent. Despite the foregoing, as soon as bills for all or any portion of the said amounts are received, the Landlord may bxxx bill the Tenant for its relevant share of the said amounts (less all amounts previously paid by the Tenant on the basis of the Landlord’s estimate which have not already been so applied) and the Tenant shall pay the Landlord such amount as Additional Rent on demand. (b) Following the end of the period for which such estimated payments have been made, the Landlord will deliver to the Tenant a statement (the “Statement”) containing: (i) reasonable particulars of the actual Operating Costs and the Real Property Taxes for such period; (ii) the Tenant’s Proportionate Share of the Operating Costs; (iii) a statement of the Real Property Taxes payable by the Tenant pursuant to section 6.3; and (iv) the Utilities payable by the Tenant pursuant to section 7.1(c). The Landlord shall use reasonable efforts to deliver the Statement to the Tenant within 120 [*****] days following the end of the relevant period, but its failure to do so will not preclude the Landlord from subsequently delivering the Statement and from making any necessary adjustments. After the delivery of a Statement, the Landlord may subsequently render supplemental statements if it subsequently discovers errors or omissions in the amounts previously charged to the Tenant or if there are any changes to the Real Property Taxes and the parties shall make the appropriate adjustment in the same manner as set out in section 5.2(c). (c) . If the Statement shows that the Tenant has paid: (iv) more than the amount actually payable by it (the difference being called the “Excess”), then, provided the Tenant is not in default of any of the Tenant’s Covenants, the Excess will be applied by the Landlord against the next succeeding instalments of the Operating Costs and Real Property Taxes payable by the Tenant. If there is any Excess for the last year of the Term, the Excess will be refunded by the Landlord to the Tenant at the same time as the Landlord delivers the Statement for the last year of the Term, provided the Tenant is not in default of any of the Tenant’s Covenants. If the Tenant is in default of any of the Tenant’s Covenants, then the Landlord shall hold the Excess until such time as the default is rectified. If the default is a rental default, the Landlord may apply the Excess against the Rent in arrears. If the default is not a rental default, the Landlord may apply the Excess against the costs incurred by the Landlord if the Landlord elects to rectify the default, in whole or in part. Upon the default being rectified, the Landlord will either apply the Excess against the next succeeding instalments of the Operating Costs and Real Property payable to the Landlord or refund any remaining amount of the Excess to the Tenant; or (iivi) less than the amount actually payable by it (the difference being called the “Deficiency”), the Tenant shall pay the Deficiency within 15 [*****] days following the date it receives the Statement from the Landlord. (dc) The Tenant has 60 [*****] days from the date that the Landlord delivers the Statement to the Tenant to deliver to the Landlord written notice setting out in detail any objections it may have to the Statement and the reasons therefor, failing which the Tenant will be deemed to have accepted the Statement which will then be conclusive and binding upon the Tenant.

Payment of Tenant’s Proportionate Share. (a) The Tenant shall pay Tenant's Proportionate Share of the Common Areas Operating Costs may be estimated by as set forth in Paragraph 9 of the Landlord for a period no greater than 12 months and the Lease Summary. Tenant shall pay to Landlord, in advance, on the Landlord first day of each calendar month commencing on the Commencement Date, an amount estimated by Landlord, from time to time, as Additional Rent, being one-twelfth (1/12) of Tenant's Proportionate Share for such estimated Fiscal Year. Thereafter, within sixty (60) days after the end of each Fiscal Year, Landlord shall deliver to Tenant a written statement setting forth the amount of Tenant's Proportionate Share of the actual Common Areas Operating Costs for such Fiscal Year. If the aggregate payments in advance during made by Tenant for any such period together with Fiscal Year exceed the monthly instalments amount of Minimum RentTenant's Proportionate Share for such Fiscal Year, such excess shall be applied as a credit against future payments to be made by Tenant under this Paragraph. Despite If the aggregate payments made by Tenant for any such Fiscal Year are less than the amount of Tenant's Proportionate Share for such Fiscal Year, Tenant shall, immediately upon demand therefor, pay Landlord the amount of any such deficiency. Notwithstanding the foregoing, subsequent adjustments may be made by Landlord as soon as bills for all a result of information not available or expenses not determined or determinable at the time any portion particular adjustment is made. In the event that the Commencement Date is other than the first day of the said amounts are receiveda full calendar month, the Landlord may bxxx first monthly payment shall be a PRO RATA amount of a full monthly contribution. In the Tenant for its relevant share event that this Lease should end on any date other than the last day of the said amounts (less all amounts previously paid by the Tenant a Fiscal Year, Tenants Proportionate Share shall be adjusted on the basis of the Landlord’s estimate ratio which the number of days which have not already been so applied) and elapsed from the Tenant shall pay the Landlord such amount as Additional Rent on demand. (b) Following the end commencement of the period for said Fiscal Year to the later of the date on which such estimated payments have been madethis Lease terminates or Tenant otherwise surrenders possession of the Premises bears to 365. Tenant's obligation to pay Tenant's Proportionate Share shall survive termination or earlier expiration of this Lease. The term "Tenant's Proportionate Share" is subject to adjustment from time to time, and Landlord expressly reserves the right to adjust Tenant's Proportionate Share as is necessary to conform as-built square footage, to reflect changes in the size of the Shopping Center subject to Common Areas Operating Costs, or to reasonably operate the Shopping Center. Tenant's Proportionate Share is the ratio, stated as a percentage, which the "Floor Area" of Tenant's Building (as defined in Paragraph 3 of the Lease Summary and shown on Exhibit D and as may be adjusted by verification subsequent to the completion of construction) bears to the total Floor Area of buildings subject to Common Areas Operating Costs. For purpose of this Paragraph, the Landlord will deliver term "Floor Area" means the area within the exterior surface of exterior walls of any building or structure, measured from the exterior surface of such exterior walls and from the center of common walls (if any), but excluding mezzanines (if any) unless such mezzanines are used as sales areas. Should the gross leasable area of the Shopping Center ever vary from what it is as of the Commencement Date, Tenant's Proportionate Share shall be adjusted so it is the ratio, stated as a percentage, which the Floor Area of Tenant's Building bears to the Tenant a statement (total Floor Area of all buildings in the “Statement”) containing: (i) reasonable particulars of the actual Operating Costs and the Real Property Taxes for such period; (ii) the Tenant’s Proportionate Share of the Shopping Center then subject to Common Areas Operating Costs; (iii) a statement of the Real Property Taxes payable by the Tenant pursuant to section 6.3; and (iv) the Utilities payable by the Tenant pursuant to section 7.1(c). The Landlord shall use reasonable efforts to deliver the Statement to the Tenant within 120 days following the end of the relevant period, but its failure to do so will not preclude the Landlord from subsequently delivering the Statement and from making any necessary adjustments. After the delivery of a Statement, the Landlord may subsequently render supplemental statements if it subsequently discovers errors or omissions in the amounts previously charged to the Tenant or if there are any changes to the Real Property Taxes and the parties shall make the appropriate adjustment in the same manner as set out in section 5.2(c). (c) If the Statement shows that the Tenant has paid: (i) more than the amount actually payable by it (the difference being called the “Excess”), then, provided the Tenant is not in default of any of the Tenant’s Covenants, the Excess will be applied by the Landlord against the next succeeding instalments of the Operating Costs and Real Property Taxes payable by the Tenant. If there is any Excess for the last year of the Term, the Excess will be refunded by the Landlord to the Tenant at the same time as the Landlord delivers the Statement for the last year of the Term, provided the Tenant is not in default of any of the Tenant’s Covenants. If the Tenant is in default of any of the Tenant’s Covenants, then the Landlord shall hold the Excess until such time as the default is rectified. If the default is a rental default, the Landlord may apply the Excess against the Rent in arrears. If the default is not a rental default, the Landlord may apply the Excess against the costs incurred by the Landlord if the Landlord elects to rectify the default, in whole or in part. Upon the default being rectified, the Landlord will either apply the Excess against the next succeeding instalments of the Operating Costs and Real Property payable to the Landlord or refund any remaining amount of the Excess to the Tenant; or (ii) less than the amount actually payable by it (the difference being called the “Deficiency”), the Tenant shall pay the Deficiency within 15 days following the date it receives the Statement from the Landlord. (d) The Tenant has 60 days from the date that the Landlord delivers the Statement to the Tenant to deliver to the Landlord written notice setting out in detail any objections it may have to the Statement and the reasons therefor, failing which the Tenant will be deemed to have accepted the Statement which will then be conclusive and binding upon the Tenant.

Payment of Tenant’s Proportionate Share. (a) The Tenant shall pay to the Landlord throughout the Term or any renewals, its Proportionate Share of the Operating Costs and Taxes, as well as an administration fee equal to three percent (3%) of the said Operating Costs and Taxes and of the Minimum Net Net Rental relating to Tenant's Costs. question, Additional Rental equal to one twelfth (1/12) of the Tenant's Proportionate Share of the estimated Operating Costs and Taxes. Should the first Lease Year of the Term not commence on the first (1st) day of January or should the last Lease Year of the Term not terminate on the thirty-first (31st) day of December, then prior to the Commencement Date of the Term or prior to the anniversary of the Commencement Date in the last Lease Year of the Term, as the case may be be, or as soon thereafter as is reasonably possible, Landlord shall furnish to Tenant an estimate of the Operating Costs and Taxes for the part of the Lease Year in question, and the Tenant shall pay to the Landlord, in advance, on the first day of each month during the part of the Lease Year in question, Additional Rental equal to the Tenant's Proportionate Share of the estimated Operating Costs and Taxes divided by the number of months for that part of the Lease Year in question. After the end of each calendar year, or after the end of the Term in the case of the final Lease Year, the Landlord shall furnish the Tenant with financial statements setting forth the actual Operating Costs and Taxes for a period no greater than 12 months such calendar year (or part of the Lease Year, as the case may be) and the Tenant shall pay to the Landlord as Additional Rent, one-twelfth of such estimated payments in advance during such period together with the monthly instalments of Minimum Rent. Despite the foregoing, as soon as bills for all or any portion forthwith an amount equal to its Proportionate Share of the said amounts are received, the Landlord may bxxx the Tenant for its relevant share of the said amounts (less all amounts previously paid by the Tenant on the basis of the Landlord’s estimate which have not already been so applied) and the Tenant shall pay the Landlord such amount as Additional Rent on demand. (b) Following the end of the period for which such estimated payments have been made, the Landlord will deliver to the Tenant a statement (the “Statement”) containing: (i) reasonable particulars excess of the actual Operating Costs and Taxes over the Real Property estimated Operating Costs and Taxes. Should the estimated Operating Costs and Taxes exceed the actual Operating Costs and Taxes, the Tenant shall receive credit for such period; (ii) the Tenant’s its Proportionate Share of the Operating Costs; excess. The appropriate adjustments shall be made between the parties hereto within thirty (iii30) a statement of days after the Real Property Taxes payable by date on which the Landlord has furnished the Tenant pursuant to section 6.3; and (iv) the Utilities payable by the Tenant pursuant to section 7.1(c). The Landlord shall use reasonable efforts to deliver the Statement to the Tenant within 120 days following the end of the relevant period, but its failure to do so will not preclude the Landlord from subsequently delivering the Statement and from making any necessary adjustments. After the delivery of a Statement, the Landlord may subsequently render supplemental statements if it subsequently discovers errors or omissions in the amounts previously charged to the Tenant or if there are any changes to the Real Property Taxes and the parties shall make the appropriate adjustment in the same manner as set out in section 5.2(c)with such statement. (c) If the Statement shows that the Tenant has paid: (i) more than the amount actually payable by it (the difference being called the “Excess”), then, provided the Tenant is not in default of any of the Tenant’s Covenants, the Excess will be applied by the Landlord against the next succeeding instalments of the Operating Costs and Real Property Taxes payable by the Tenant. If there is any Excess for the last year of the Term, the Excess will be refunded by the Landlord to the Tenant at the same time as the Landlord delivers the Statement for the last year of the Term, provided the Tenant is not in default of any of the Tenant’s Covenants. If the Tenant is in default of any of the Tenant’s Covenants, then the Landlord shall hold the Excess until such time as the default is rectified. If the default is a rental default, the Landlord may apply the Excess against the Rent in arrears. If the default is not a rental default, the Landlord may apply the Excess against the costs incurred by the Landlord if the Landlord elects to rectify the default, in whole or in part. Upon the default being rectified, the Landlord will either apply the Excess against the next succeeding instalments of the Operating Costs and Real Property payable to the Landlord or refund any remaining amount of the Excess to the Tenant; or (ii) less than the amount actually payable by it (the difference being called the “Deficiency”), the Tenant shall pay the Deficiency within 15 days following the date it receives the Statement from the Landlord. (d) The Tenant has 60 days from the date that the Landlord delivers the Statement to the Tenant to deliver to the Landlord written notice setting out in detail any objections it may have to the Statement and the reasons therefor, failing which the Tenant will be deemed to have accepted the Statement which will then be conclusive and binding upon the Tenant.

Payment of Tenant’s Proportionate Share. (a) The Operating Costs may be estimated, or re-estimated from time to time, by the Landlord for each of the Landlord’s fiscal periods (currently being a period no greater than 12 months calendar year, but which may be changed, from time to time, by the Landlord) (a -Fiscal Period”) and the Tenant shall pay to the Landlord as Additional Rent, one-twelfth of such estimated payments in equal monthly instalments in advance during such period together with on the monthly instalments of Minimum Rent. Despite the foregoing, as soon as bills for all or any portion first day of the said amounts are received, the Landlord may bxxx the Tenant for its relevant share of the said amounts (less all amounts previously paid by the Tenant on the basis of the Landlord’s estimate which have not already been so applied) and the Tenant shall pay the Landlord such amount as Additional Rent on demandmonth. (b) Following the end of the period each Fiscal Period for which such estimated payments have been made, the Landlord will shall deliver to the Tenant a statement (the “Statement-Statement”) containing: (i) reasonable particulars of the actual Operating Costs and the Real Property Taxes for such period; (ii) the Tenant’s Proportionate Share of the Operating Costs; (iii) a statement of the Real Property Taxes payable by the Tenant pursuant to section 6.36.2; and (iv) the Utilities payable amount of the Utilities, if any, allocated by the Landlord to the Tenant pursuant to section 7.1(c). The Landlord shall use reasonable efforts to deliver the Statement to the Tenant within 120 days following the end of the relevant periodeach Fiscal Period, but its failure to do so will not preclude the Landlord from subsequently delivering the Statement and from making any necessary adjustments. After the delivery of a Statement, the Landlord may subsequently render supplemental statements if it subsequently discovers errors or omissions in the amounts previously charged to the Tenant or if there are any changes to the Real Property Taxes and the parties shall make the appropriate adjustment in the same manner as set out in section 5.2(c). Notwithstanding the foregoing, the Landlord may not issue a supplemental statement on account of the Operating Costs for a period covered by a Statement more than 1 year following the delivery of such Statement to the Tenant, but, for clarity, such restriction does not prohibit the Landlord from issuing supplemental statements if there are any changes to the Real Property Taxes applicable to the period covered by a Statement. (c) If the Statement shows that the Tenant has paid: (i) more than the amount actually payable by it (the difference being called the “Excess”), then, provided the Tenant is not in default of any of the Tenant’s Covenants, the Excess will be applied by the Landlord against the next succeeding instalments of the Operating Costs and Real Property Taxes payable by the Tenant. If there is any Excess for the last year of the Term, the Excess will be refunded by the Landlord to the Tenant at the same time as the Landlord delivers the Statement for the last year of the Term, provided the Tenant is not in default of any of the Tenant’s Covenants. If the Tenant is in default of any of the Tenant’s Covenants, then the Landlord shall hold the Excess until such time as the default is rectified. If the default is a rental default, the Landlord may apply the Excess against the Rent in arrears. If the default is not a rental default, the Landlord may apply the Excess against the costs incurred by the Landlord if the Landlord elects to rectify the default, in whole or in part, in accordance with its rights to do so contained in this Lease. Upon the default being rectified, the Landlord will either apply the Excess against the next succeeding instalments of the Operating Costs and Real Property payable to the Landlord or refund any remaining amount of the Excess to the Tenant; or (ii) less than the amount actually payable by it (the difference being called the “Deficiency”), the Tenant shall pay the Deficiency within 15 days following the date it receives the Statement from the Landlord. (d) The Tenant has 60 days from the date that the Landlord delivers the Statement to the Tenant to deliver to the Landlord written notice setting out in detail any objections it may have to the Statement and the reasons therefor, failing which the Tenant will be deemed to have accepted the Statement which will then be conclusive and binding upon the Tenant.