Common use of Payment Procedure; Estimates Clause in Contracts

Payment Procedure; Estimates. 3.1. During each Expense Year, Landlord may elect to give Tenant written notice of its estimate of any amounts payable under Section 4.1.3 of the Standard Lease Provisions for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s Property Taxes and Insurance, and the amount of Additional Rent payable under Section 4.1.3 of the Standard Lease Provisions for such Expense Year, as determined by Landlord (the “Landlord’s Statement”), and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”. If the Landlord’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) is more than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense Year, Tenant shall pay the deficiency to Landlord within thirty (30) days of receipt of Landlord’s Statement or (b) is less than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense Year, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, shall be paid to Tenant within thirty (30) days of receipt of Landlord’s Statement). The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” to be performed after such expiration or early termination.

Appears in 2 contracts

Samples: Wholesale Datacenter Lease (Box Inc), Wholesale Datacenter Lease (Box Inc)

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Payment Procedure; Estimates. 3.1. During For each Expense Lease Year, Landlord may elect to shall give Tenant written notice of its Landlord’s estimate of any amounts payable under Section 4.1.3 of the Standard Lease Provisions 5.1 for that Expense Lease Year. On or before the first day of each calendar month during such Expense Lease Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Lease Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 5.3 by Tenant for such Expense Lease Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant Tenant, within one hundred fifty (150) 150 days after the close of each Expense Lease Year or as soon thereafter as is practicable, a statement of that yearLease Year’s Property Taxes Tax Expenses and InsuranceOperating Expenses, and the amount Tenant’s Share of Additional Rent actual Operating Expenses and actual Tax Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense YearLease Year pursuant to Section 5.1, as determined by Landlord (the “Landlord’s Statement”), ) and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 5.4. If the Landlordactual amount of Tenant’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 Share of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Operating Expenses and Tax Expenses for any Lease Provisions: (a) Year is more than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall pay the deficiency to Landlord within thirty (30) 30 days of after receipt of Landlord’s Statement or (b) Statement. If the actual amount of Tenant’s Share of Operating Expenses and Tax Expenses for any Lease Year is less than the estimated payments for such Lease Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Lease Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days of receipt Tenant. No delay in providing any Landlord’s Statement described in this Section 5.3 shall act as a waiver of Landlord’s Statement)right to receive payment from Tenant under Section 5.1 above. If this Lease shall terminate on a day other than the end of a calendar year, the actual amount of Tenant’s Share of Operating Expenses and Tax Expenses payable under Section 5.1 that is applicable to the calendar year in which such termination occurs shall be prorated. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 5.3 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Office Lease (EverCommerce Inc.)

Payment Procedure; Estimates. 3.1. During For each Expense Year, Landlord may elect to give Tenant written notice of its estimate of any amounts payable under Section 4.1.3 of the Standard Lease Provisions 4.1 for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 4.4 by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s 's Property Taxes and InsuranceOperating Expenses, and the amount Tenant's Percentage Share of Additional Rent actual Property Taxes and actual Operating Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense YearYear pursuant to Section 4.1, as determined by Landlord (the “Landlord’s Statement”), "LANDLORD'S STATEMENT") and such Landlord’s 's Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 4.5. If the Landlord’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 amount of this Exhibit “E” that) the amount payable under Section 4.1.3 Tenant's Percentage Share of the Standard Lease Provisions: (a) actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments with respect thereto made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall pay the deficiency to Landlord within thirty (30) days of upon receipt of Landlord’s Statement or (b) 's Statement. If the amount of Tenant's Percentage Share of actual Property Taxes and Operating Expenses for any Expense Year is less than the estimated payments for such Expense Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days after delivery of receipt the Landlord's Statement for the year in which this Lease expired. No delay in providing any Landlord's Statement described in this Section 4.4 shall act as a waiver of Landlord’s Statement)'s right to receive payment from Tenant under Section 4.1 above with respect to Tenant's Percentage Share of Property Taxes and Operating Expenses, or either of them, for the period covered thereby. If this Lease shall terminate on a day other than the end of a calendar year, the amount of Tenant's Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year in which such termination occurs shall be prorated on the basis that the number of days from January 1 of such calendar year to the termination date bears to 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 4.4 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Office Lease (Clayton Holdings Inc)

Payment Procedure; Estimates. 3.1. 4.4.1 During each Expense Year, Landlord may elect to give Tenant written notice of its estimate of any the amounts payable by Tenant under Section 4.1.3 of the Standard Lease Provisions 4.1, above ("Article 4 Additional Rent") for that Expense Year. On Thereafter, Oil or before the first day of each calendar month during such Expense Year, Tenant shall pay to Landlord one-twelfth (1/12th1I12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 4.4 by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. 4.4.2 Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s Property 's Operating Expenses, Properly Taxes and Insurance, Utility Costs and the total amount of payable by Tenant as Article 4 Additional Rent payable under Section 4.1.3 of the Standard Lease Provisions for such Expense Year, as determined by Landlord (the "Landlord’s 's Statement"). Except as provided in Section 4.5, and such Landlord’s 's Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”. If the Landlord’s 's [DBL:dbIIMaguirc Properties ~ SDTC - YoNa(urals Lease/I 064.002] -6. Statement indicates that (or if it is finally determined pursuant to Paragraph the total amount of Article 4 of this Exhibit “E” that) Additional Rent payable by Tenant for the amount payable under Section 4.1.3 of the Standard Lease Provisions: applicable Expense Year (a) is more than the estimated payments for such Expense Year previously made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect pursuant to the applicable Expense YearSection 4.4.1, above, then Tenant shall pay the deficiency to Landlord within thirty (30) days of upon receipt of Landlord’s 's Statement or (b) is less than the estimated payments for such Expense Year previously made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect pursuant to the applicable Expense YearSection 4.4.1, above, then such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days of receipt days). No delay in providing any Landlord's Statement described in this Section 4.4.2 shall act as a waiver of Landlord’s Statement)'s right to receive payment from Tenant under Section 4.1 above (with respect to any Article 4 Additional Rent) for the period covered thereby. 4.4.3 If this Lease shall expire or terminate on a day other than the end of an Expense Year, the amount payable by Tenant as Article 4 Additional Rent that is applicable with respect to the Expense Year in which such expiration or termination occurs shall be prorated on the basis that the number of days from January I of such calendar year to the expiration or termination date bears to 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 4.4 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Office Lease (Fresh Healthy Vending International, Inc.)

Payment Procedure; Estimates. 3.1. During each Expense Year, Landlord may elect to give Tenant written notice of its estimate of any amounts payable under Section 4.1.3 of the Standard Lease Provisions 4.1 for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 4.4 by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s Property Taxes and InsuranceOperating Expenses, and the amount Tenant’s Percentage Share of Additional Rent actual Property Taxes and actual Operating Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense YearYear pursuant to Section 4.1, as determined by Landlord (the “Landlord’s Statement”), ) and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 4.5. If the Landlordamount of Tenant’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 Percentage Share of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments with respect thereto made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall pay the deficiency to Landlord within thirty (30) days of upon receipt of Landlord’s Statement or (b) Statement. If the amount of Tenant’s Percentage Share of actual Property Taxes and Operating Expenses for any Expense Year is less than the estimated payments for such Expense Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days of receipt Tenant. No delay in providing any Landlord’s Statement described in this Section 4.4 shall act as a waiver of Landlord’s Statement)right to receive payment from Tenant under Section 4.1 above with respect to Tenant’s Percentage Share of Property Taxes and/or Operating Expenses for the period covered thereby. If this Lease shall terminate on a day other than the end of a calendar year, the amount of Tenant’s Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year in which such termination occurs shall be prorated on the basis that the number of days from January 1 of such calendar year to the termination date bears to 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 4.4 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Loan Agreement (MPG Office Trust, Inc.)

Payment Procedure; Estimates. 3.1. During each Expense Year following the Base Year (a “Comparison Year”), Landlord may elect to shall give Tenant at least ten (10) days prior written notice of its estimate of any increased amounts payable under Section 4.1.3 of 4.1 for the Standard Lease Provisions for that Expense Comparison Year. On : Subject to such notice requirement on or before the first day of each calendar month during such Expense Comparison Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterlysemi-annually, Landlord may, by written notice to Tenant, revise its estimate for such Expense Comparison Year, and all subsequent payments due at least thirty (30) days after Tenant’s receipt of such notice under this Paragraph 3.1 of this Exhibit “E” Section 4.4 by Tenant for such Expense Comparison Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to to; Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicableComparison Year, a statement of that yearComparison Year’s Property Taxes and InsuranceOperating Expenses, and the amount Tenant’s Percentage Share of Additional Rent actual excess Property Taxes and actual Operating Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense YearComparison Year pursuant to Section 4.1, as reasonably determined by Landlord (the “Landlord’s Statement”), ) and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 4.5. If the Landlordamount of Tenant’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 Percentage Share of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) actual excess Property Taxes and Operating Expenses for any Comparison Year is more than the estimated payments with respect thereto made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall pay the deficiency to Landlord within thirty (30) days of Tenant’s receipt of Landlord’s Statement or (b) Statement. If the amount of Tenant’s Percentage Share of actual excess Property Taxes and Operating Expenses for any Comparison Year is less than the estimated payments for such Comparison Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days of receipt the delivery by Landlord of Landlord’s Statement. No delay in providing any Landlord’s Statement described in this Section 4.4 shall act as a waiver of Landlord’s right to receive payment from Tenant under Section 4.1 above with respect to Tenant’s Percentage Share of Property Taxes and/or Operating Expenses for the period covered thereby. Notwithstanding the immediately preceding sentence, Tenant shall not be responsible for payment of any Property Taxes or Operating Expenses attributable to any Comparison Year which are first billed to Tenant more than one (1) year after the expiration of the applicable Comparison Year (such one (1) year period shall be shortened to six (6) months with respect to any xxxxxxxx after the Lease Expiration Date), provided that in any event Tenant shall be responsible for Tenant’s Percentage Share of actual excess Property Taxes and Operating Expenses which were in dispute or which were undeterminable, or which are levied by any governmental authority or by any public utility companies at any time following the Lease Expiration Date which are attributable to any Comparison Year (provided that Landlord delivers Tenant a xxxx for such amounts within six (6) months following Landlord’s receipt of the xxxx therefor). If this Lease shall terminate on a day other than the end of a calendar year, the amount of Tenant’s Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year in which such termination occurs shall be prorated on the basis that the number of days from January 1 of such calendar year to the termination date bears to 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 4.4 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Office Lease (Capitalsource Inc)

Payment Procedure; Estimates. 3.1. During each Expense YearIf Landlord disagrees with Tenant’s contention that an error exists with respect to Landlord’ s Statement (and the Operating Expenses and Tax Expenses described therein) in dispute, Landlord may elect shall have the right to give cause another review of that portion of Landlord’s Statement (and the Operating Expenses and Tax Expenses stated therein) to be made by a firm of independent certified public accountants of regional or national standing mutually selected by Landlord and Tenant written notice which are not compensated on a contingency fee or similar basis relating to the results of its estimate such review (the “Third Party Accountant”). In the event of a disagreement between the two accounting firms , the review of the Third Party Accountant shall be deemed to be correct and shall be conclusively binding on both Landlord and Tenant. In the event that the results of the Third Party Accountant’s review of a particular Land lord’ s Statement indicates that total Operating Expenses and Tax Expenses for the period covered by the Landlord’s Statement in question have been overstated by more than five percent (5%), then Landlord shall reimburse Tenant for the reasonable cost of Tenant’s Accountant (not to exceed $5,000.00 of the actual, out-of-pocket costs of such exam ination incurred by Tenant, which costs must be determined on a reasonable hourly basis and not a percentage or contingent fee basis) and the amount of any amounts payable under Section 4.1.3 overpayment by Tenant of estimated Operating Expenses and Tax Expenses, or either of them, for the Standard Lease Provisions for that Expense Year. On or before the first day of each calendar month during such Expense Yearperiod in question shall be credited against Tenant’ s obligations to pay Additional Rent next comin g due; in all other cases, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate be liable for such Expense Year, the Third Party Accountant ‘ s actual fees and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s Property Taxes and Insuranceexpenses, and the amount of Additional Rent payable under Section 4.1.3 of the Standard Lease Provisions for such Expense Year, as determined by Landlord (the “Landlord’s Statement”), and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”. If the Landlord’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) is more than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense Year, Tenant shall pay the deficiency to Landlord within thirty (30) days of receipt of Landlord’s Statement or (b) is less than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense Year, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, any underpayment shall be paid by Tenant to Tenant within thirty (30) days Landlord with the next succeeding installment of receipt of Landlord’s Statement). The expiration or early termination of this Lease shall not affect the obligations of Landlord estimated Tax Expenses and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” to be performed after such expiration or early terminationOperating Expenses.

Appears in 1 contract

Samples: Office Lease (CF Finance Acquisition Corp. III)

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Payment Procedure; Estimates. 3.1. During Not later than sixty (60) days prior to the beginning of each Expense Year, Landlord may elect to will give Tenant written notice of its estimate of any increased amounts payable under Section 4.1.3 of the Standard Lease Provisions 4.1 for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant shall will pay to Landlord one-twelfth (1/12th) of such the estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to will deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicableYear, a statement of that yearExpense Year’s Property Taxes and InsuranceOperating Expenses, and the amount Tenant’s Percentage Share of Additional Rent Operating Expenses payable under for that Expense Year pursuant to Section 4.1.3 of the Standard Lease Provisions for such Expense Year4.1, as determined by Landlord (the “Landlord’s Statement”), and such . Landlord’s Statement shall will be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 4.3. If the LandlordTenant’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 Percentage Share of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) Operating Expenses for any Expense Year is more than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall will pay the deficiency to Landlord within thirty (30) days when the next installment of Base Rent is due, or, if the Term has ended, upon receipt of Landlord’s Statement or (b) Statement. If Tenant’s Percentage Share of Operating Expenses for any Expense Year is less than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to Tenant, the applicable Expense Year, such excess payments shall will be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, shall will be paid to Tenant within thirty (30) days of receipt Tenant. No delay in providing any Landlord’s Statement described in this Section will act as a waiver of Landlord’s Statement)right to receive payment from Tenant of Tenant’s Percentage Share of Operating Expenses. If this Lease ends on a day other than the end of a calendar year, Tenant’s Percentage Share of Operating Expenses applicable to the year will be prorated on the basis that the number of days from January 1 of the year to the end date bears to 365. The expiration or early termination of this Lease shall will not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” to be performed after such expiration or early terminationSection.

Appears in 1 contract

Samples: Lease Agreement (Syntax-Brillian Corp)

Payment Procedure; Estimates. 3.1. During each Expense Comparison Year, in the event Landlord may elect desires to increase amounts payable under Section 4.1, Landlord shall give Tenant written notice of its estimate of any increased amounts payable under Section 4.1.3 of 4.1 for the Standard Lease Provisions for that Expense Comparison Year. On or before the first day of each calendar month during such Expense Comparison Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Expense Comparison Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 4.4 by Tenant for such Expense Comparison Year shall be based upon such revised estimate. 3.2. Landlord shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Comparison Year or as soon thereafter as is practicable, a verified statement of that year’s Comparison Year's Property Taxes and InsuranceOperating Expenses, and the amount Tenant's Percentage Share of Additional Rent actual excess Property Taxes and actual Operating Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense YearComparison Year pursuant to Section 4.1, as determined by Landlord (the "Landlord’s 's Statement”), ") and such Landlord’s 's Statement shall be certified by Landlord to be true and accurate and shall include detailed documentation and itemizations of the obligations and expenses constituting the Additional Rent that Tenant is obligated to pay, and shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 4.5. If the Landlord’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 amount of this Exhibit “E” that) the amount payable under Section 4.1.3 Tenant's Percentage Share of the Standard Lease Provisions: (a) actual excess Property Taxes and Operating Expenses for any Comparison Year is more than the estimated payments with respect thereto made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, Tenant shall pay the deficiency to Landlord within thirty (30) days of after receipt of Landlord’s Statement or (b) 's Statement. If the amount of Tenant's Percentage Share of actual excess Property Taxes and Operating Expenses for any Comparison Year is less than the estimated payments for such Comparison Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, such excess shall be paid to Tenant within thirty (30) days of receipt Tenant. No delay in providing any Landlord's Statement described in this Section 4.4 shall act as a waiver of Landlord’s Statement)'s right to receive payment from Tenant under Section 4.1 above with respect to Tenant's Percentage Share of Property Taxes and/or Operating Expenses for the period covered thereby. If this Lease shall terminate on a day other than the end of a calendar year, the amount of Tenant's Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year in which such termination occurs shall be prorated on the basis that the number of days from January 1 of such calendar year to the termination date bears to 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” Section 4.4 to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Office Lease (Ultimate Software Group Inc)

Payment Procedure; Estimates. 3.1. During each Expense Year, Year Landlord may elect to give Tenant written notice (the “Estimated Statement”) of its estimate of any amounts payable under Section 4.1.3 Tenant’s Pro Rata Share of the Standard Lease Provisions excess Operating Expenses and excess Property Taxes for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant shall pay to Landlord one-twelfth (1/12th) of such estimated amounts; provided, howeverHowever, that, not more often than quarterlytwice per year, Landlord may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Paragraph 3.1 of this Exhibit “E” Section 1.4 by Tenant for such Expense Year shall be based upon such revised estimate. 3.2. , Landlord shall endeavor use commercially reasonable efforts to deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year or as soon thereafter as is practicable, a statement of that year’s Property Taxes and InsuranceOperating Expenses, and the amount Tenant’s Pro Rata Share of Additional Rent actual excess Property Taxes and actual excess Operating Expenses payable under Section 4.1.3 of the Standard Lease Provisions for such Expense Year, Year as determined by Landlord in accordance with the provisions of this Lease (the “Landlord’s Statement”), ) and such Landlord’s Statement shall be binding upon Landlord and Tenant, except as provided in Paragraph 4 of this Exhibit “E”Section 1.5 below. If the Landlordamount of Tenant’s Statement indicates that (or if it is finally determined pursuant to Paragraph 4 Pro Rata Share of this Exhibit “E” that) the amount payable under Section 4.1.3 of the Standard Lease Provisions: (a) actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable such Expense YearYear made by Tenant, Tenant shall pay the deficiency to Landlord within thirty (30) days of following receipt of Landlord’s Statement or (b) Statement. If the amount of Tenant’s Pro Rata Share of actual Property Taxes and Operating Expenses for any Expense Year is less than the estimated payments for such Expense Year made by Tenant under Paragraph 3.1 of this Exhibit “E” with respect to the applicable Expense YearTenant, such any excess payments shall be credited against Rent next payable by Tenant under this Lease (or, if the Term of this Lease has expired, any excess shall be paid to Tenant within thirty (30) days of receipt Landlord’s delivery of Landlord’s Statement), No delay in providing any Landlord’s Statement described in this Section 1.4 shall act as a waiver of Landlord’s right to receive payment from Tenant under this Exhibit B above with respect to Tenant’s Pro Rata Share of Property Taxes and/or Operating Expenses for the period covered thereby. If this Lease shall commence on a day other than the first day of a calendar year or terminate on a day other than the end of a calendar year, the amount of Tenant’s Pro Rata Share of actual Property Taxes and actual Operating Expenses payable under this Exhibit B that is applicable to the calendar year in which such commencement or termination occurs shall be prorated on the basis that the number of days from the Commencement Date to December 31 of such calendar year or the number of days from January 1 of such calendar year to the termination date, as applicable, bears to the number 365. The expiration or early termination of this Lease shall not affect the obligations of Landlord and Tenant pursuant to this Paragraph 3.2 of this Exhibit “E” B to be performed after such expiration or early termination.

Appears in 1 contract

Samples: Lease Agreement (PagerDuty, Inc.)

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