Common use of Payment Procedure; Estimates Clause in Contracts

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of each Expense Year, Landlord will give Tenant written notice of its estimate of any increased amounts payable under Section 4.1 for that Expense Year. On or before the first day of each month during such Expense Year, Tenant will pay to Landlord one-twelfth (1/12th) of the estimated amounts. Landlord will deliver to Tenant within one hundred fifty (150) days after the close of each Expense Year, a statement of that Expense Year’s Operating Expenses, and Tenant’s Percentage Share of Operating Expenses payable for that Expense Year pursuant to Section 4.1, as determined by Landlord (the “Landlord’s Statement”). Landlord’s Statement will be binding upon Landlord and Tenant, except as provided in Section 4.3. If Tenant’s Percentage Share of Operating Expenses for any Expense Year is more than the estimated payments made by Tenant, Tenant will pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon receipt of Landlord’s Statement. If Tenant’s Percentage Share of Operating Expenses for any Expense Year is less than the estimated payments made by Tenant, the excess payments will be credited against Rent next payable by Tenant or, if the Term has expired, will be paid to Tenant. No delay in providing any Landlord’s Statement described in this Section will act as a waiver of Landlord’s 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 termination of this Lease will not affect the obligations of Landlord and Tenant pursuant to this Section.

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of For each Expense Lease Year, Landlord will shall give Tenant written notice of its Landlord’s estimate of any increased amounts payable under Section 4.1 5.1 for that Expense Lease Year. On or before the first day of each calendar month during such Expense Lease Year, Tenant will shall pay to Landlord one-twelfth (1/12th) of the such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Lease Year, and all subsequent payments under this Section 5.3 by Tenant for such Lease Year shall be based upon such revised estimate. Landlord will shall deliver to Tenant Tenant, within one hundred fifty (150) 150 days after the close of each Expense YearLease Year or as soon thereafter as is practicable, a statement of that Expense Lease Year’s Tax Expenses and Operating Expenses, and Tenant’s Percentage Share of actual Operating Expenses and actual Tax Expenses payable for that Expense such Lease Year pursuant to Section 4.15.1, as determined by Landlord (the “Landlord’s Statement”). ) and such Landlord’s Statement will shall be binding upon Landlord and Tenant, except as provided in Section 4.35.4. If the actual amount of Tenant’s Percentage Share of Operating Expenses and Tax Expenses for any Expense Lease Year is more than the estimated payments made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon within 30 days after receipt of Landlord’s Statement. If the actual amount of Tenant’s Percentage Share of Operating Expenses and Tax Expenses for any Expense Lease Year is less than the estimated payments for such Lease Year made by Tenant, the such excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Lease Term has expired, will such excess shall be paid to Tenant. No delay in providing any Landlord’s Statement described in this Section will 5.3 shall act as a waiver of Landlord’s right to receive payment from Tenant of Tenant’s Percentage Share of Operating Expensesunder Section 5.1 above. If this Lease ends shall terminate on a day other than the end of a calendar year, the actual amount of Tenant’s Percentage Share of Operating Expenses and Tax Expenses payable under Section 5.1 that is applicable to the calendar year will in which such termination occurs shall be prorated on the basis that the number of days from January 1 of the year to the end date bears to 365prorated. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionSection 5.3 to be performed after such expiration or early termination.

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of During each Expense Year, Year Landlord will may elect to give Tenant written notice (the “Estimated Statement”) of its estimate of any increased amounts payable under Section 4.1 Tenant’s Pro Rata Share of 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 will shall pay to Landlord one-twelfth (1/12th) of the such estimated amounts. ; provided, However, that, not more often than twice per year, Landlord will may, by written notice to Tenant, revise its estimate for such Expense Year, and all subsequent payments under this Section 1.4 by Tenant for such Expense Year shall be based upon such revised estimate, Landlord shall use commercially reasonable efforts to deliver to Tenant within one hundred fifty (150) days after the close of each Expense YearYear or as soon thereafter as is practicable, a statement of that Expense Yearyear’s Property Taxes and Operating Expenses, and Tenant’s Percentage Pro Rata Share of actual excess Property Taxes and actual excess Operating Expenses payable for that such Expense Year pursuant to Section 4.1, as determined by Landlord in accordance with the provisions of this Lease (the “Landlord’s Statement”). ) and such Landlord’s Statement will shall be binding upon Landlord and Tenant, except as provided in Section 4.31.5 below. If the amount of Tenant’s Percentage Pro Rata Share of actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments with respect to such Expense Year made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon within thirty (30) days following receipt of Landlord’s Statement. If the amount of Tenant’s Percentage 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, the any excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Term of this Lease has expired, will any excess shall be paid to Tenant. Tenant within thirty (30) days of Landlord’s delivery of Landlord’s Statement, No delay in providing any Landlord’s Statement described in this Section will 1.4 shall act as a waiver of Landlord’s right to receive payment from Tenant of under this Exhibit B above with respect to Tenant’s Percentage Pro Rata Share of Property Taxes and/or Operating ExpensesExpenses for the period covered thereby. If this Lease ends 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 Percentage Pro Rata Share of actual Property Taxes and actual Operating Expenses payable under this Exhibit B that is applicable to the calendar year will 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 the such calendar year to the end date termination date, as applicable, bears to the number 365. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionExhibit B to be performed after such expiration or early termination.

Payment Procedure; Estimates. Not later than sixty During each Expense Year following the Base Year (60a “Comparison Year”), Landlord shall give Tenant at least ten (10) days prior to the beginning of each Expense Year, Landlord will give Tenant written notice of its estimate of any increased amounts payable under Section 4.1 for that Expense the Comparison Year. On : Subject to such notice requirement on or before the first day of each calendar month during such Expense Comparison Year, Tenant will shall pay to Landlord one-twelfth (1/12th) of the such estimated amounts; provided, however, that, not more often than semi-annually, Landlord may, by written notice to Tenant, revise its estimate for such Comparison Year, and all subsequent payments due at least thirty (30) days after Tenant’s receipt of such notice under this Section 4.4 by Tenant for such Comparison Year shall be based upon such revised estimate. Landlord will shall deliver to to; Tenant within one hundred fifty (150) days after the close of each Expense Comparison Year, a statement of that Expense Comparison Year’s Property Taxes and Operating Expenses, and Tenant’s Percentage Share of actual excess Property Taxes and actual Operating Expenses payable for that Expense such Comparison Year pursuant to Section 4.1, as reasonably determined by Landlord (the “Landlord’s Statement”). ) and such Landlord’s Statement will shall be binding upon Landlord and Tenant, except as provided in Section 4.34.5. If the amount of Tenant’s Percentage Share of actual excess Property Taxes and Operating Expenses for any Expense Comparison Year is more than the estimated payments with respect thereto made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment within thirty (30) days of Base Rent is due, or, if the Term has ended, upon Tenant’s receipt of Landlord’s Statement. If the amount of Tenant’s Percentage Share of actual excess Property Taxes and Operating Expenses for any Expense Comparison Year is less than the estimated payments for such Comparison Year made by Tenant, the such excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Term of this Lease has expired, will such excess shall be paid to TenantTenant within thirty (30) days of the delivery by Landlord of Landlord’s Statement. No delay in providing any Landlord’s Statement described in this Section will 4.4 shall act as a waiver of Landlord’s right to receive payment from Tenant of under Section 4.1 above with respect to Tenant’s Percentage Share of Property Taxes and/or Operating ExpensesExpenses 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 ends 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 will in which such termination occurs shall be prorated on the basis that the number of days from January 1 of the such calendar year to the end termination date bears to 365. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionSection 4.4 to be performed after such expiration or early termination.

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of During each Expense Comparison Year, in the event Landlord will 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 for that Expense the Comparison Year. On or before the first day of each calendar month during such Expense Comparison Year, Tenant will shall pay to Landlord one-twelfth (1/12th) of the such estimated amounts; provided, however, that, not more often than quarterly, Landlord may, by written notice to Tenant, revise its estimate for such Comparison Year, and all subsequent payments under this Section 4.4 by Tenant for such Comparison Year shall be based upon such revised estimate. Landlord will shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense YearComparison Year or as soon thereafter as is practicable, a verified statement of that Expense Comparison Year’s 's Property Taxes and Operating Expenses, and Tenant’s 's Percentage Share of actual excess Property Taxes and actual Operating Expenses payable for that Expense such Comparison Year pursuant to Section 4.1, as determined by Landlord (the “"Landlord’s 's Statement”). ") and such Landlord’s 's Statement will 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 Section 4.34.5. If the amount of Tenant’s 's Percentage Share of actual excess Property Taxes and Operating Expenses for any Expense Comparison Year is more than the estimated payments with respect thereto made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon within thirty (30) days after receipt of Landlord’s 's Statement. If the amount of Tenant’s 's Percentage Share of actual excess Property Taxes and Operating Expenses for any Expense Comparison Year is less than the estimated payments for such Comparison Year made by Tenant, the such excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Term of this Lease has expired, will such excess shall be paid to Tenant. No delay in providing any Landlord’s 's Statement described in this Section will 4.4 shall act as a waiver of Landlord’s 's right to receive payment from Tenant of under Section 4.1 above with respect to Tenant’s 's Percentage Share of Property Taxes and/or Operating ExpensesExpenses for the period covered thereby. If this Lease ends shall terminate on a day other than the end of a calendar year, the amount of Tenant’s 's Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year will in which such termination occurs shall be prorated on the basis that the number of days from January 1 of the such calendar year to the end termination date bears to 365. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionSection 4.4 to be performed after such expiration or early termination.

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of During each Expense Year, Landlord will may elect to give Tenant written notice of its estimate of any increased amounts payable under Section 4.1 for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant will shall pay to Landlord one-twelfth (1/12th) of the 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 Section 4.4 by Tenant for such Expense Year shall be based upon such revised estimate. Landlord will shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense YearYear or as soon thereafter as is practicable, a statement of that Expense Yearyear’s Property Taxes and Operating Expenses, and Tenant’s Percentage Share of actual Property Taxes and actual Operating Expenses payable for that such Expense Year pursuant to Section 4.1, as determined by Landlord (the “Landlord’s Statement”). ) and such Landlord’s Statement will shall be binding upon Landlord and Tenant, except as provided in Section 4.34.5. If the amount of Tenant’s Percentage Share of actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments with respect thereto made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon receipt of Landlord’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, the such excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Term of this Lease has expired, will such excess shall be paid to Tenant. No delay in providing any Landlord’s Statement described in this Section will 4.4 shall act as a waiver of Landlord’s right to receive payment from Tenant of under Section 4.1 above with respect to Tenant’s Percentage Share of Property Taxes and/or Operating ExpensesExpenses for the period covered thereby. If this Lease ends 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 will in which such termination occurs shall be prorated on the basis that the number of days from January 1 of the such calendar year to the end termination date bears to 365. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionSection 4.4 to be performed after such expiration or early termination.

Payment Procedure; Estimates. Not later than sixty (60) days prior to the beginning of For each Expense Year, Landlord will may elect to give Tenant written notice of its estimate of any increased amounts payable under Section 4.1 for that Expense Year. On or before the first day of each calendar month during such Expense Year, Tenant will shall pay to Landlord one-twelfth (1/12th) of the 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 Section 4.4 by Tenant for such Expense Year shall be based upon such revised estimate. Landlord will shall endeavor to deliver to Tenant within one hundred fifty (150) days after the close of each Expense YearYear or as soon thereafter as is practicable, a statement of that Expense Year’s year's Property Taxes and Operating Expenses, and Tenant’s 's Percentage Share of actual Property Taxes and actual Operating Expenses payable for that such Expense Year pursuant to Section 4.1, as determined by Landlord (the “"LANDLORD'S STATEMENT") and such Landlord’s Statement”). Landlord’s 's Statement will shall be binding upon Landlord and Tenant, except as provided in Section 4.34.5. If the amount of Tenant’s 's Percentage Share of actual Property Taxes and Operating Expenses for any Expense Year is more than the estimated payments with respect thereto made by Tenant, Tenant will shall pay the deficiency to Landlord when the next installment of Base Rent is due, or, if the Term has ended, upon receipt of Landlord’s 's Statement. If the amount of Tenant’s '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, the such excess payments will shall be credited against Rent next payable by Tenant under this Lease or, if the Term of this Lease has expired, will such excess shall be paid to TenantTenant within thirty (30) days after delivery of the Landlord's Statement for the year in which this Lease expired. No delay in providing any Landlord’s 's Statement described in this Section will 4.4 shall act as a waiver of Landlord’s 's right to receive payment from Tenant of under Section 4.1 above with respect to Tenant’s 's Percentage Share of Property Taxes and Operating Expenses, or either of them, for the period covered thereby. If this Lease ends shall terminate on a day other than the end of a calendar year, the amount of Tenant’s 's Percentage Share of actual Property Taxes and actual Operating Expenses payable under Section 4.1 that is applicable to the calendar year will in which such termination occurs shall be prorated on the basis that the number of days from January 1 of the such calendar year to the end termination date bears to 365. The expiration or early termination of this Lease will shall not affect the obligations of Landlord and Tenant pursuant to this SectionSection 4.4 to be performed after such expiration or early termination.