Common use of Payments of Additional Rent; Projections Clause in Contracts

Payments of Additional Rent; Projections. Tenant shall make payments on account of its Additional Rent with respect to each year effective as of the first day of each calendar year (the "Adjustment Date") as follows: (i) Landlord may, prior to each Adjustment Data or from time to time during the year, deliver to Tenant a written notice or notices ('Projection Notice") setting forth (A) Landlord's reasonable estimates, forecasts or projections (collectively, the "Projections") of Taxes and Expenses with respect to such year. and (B) Tenant's Proportionate Share of Taxes and Expenses with respect to such year based upon the Projections. (ii) Until such time as Landlord furnishes a Projection Notice with respect to any year, Tenant shall pay to Landlord a monthly installment of Additional Rent (at the time of and together with each payment of Monthly Base Rent) equal to the latest monthly installment of Additional Rent. On or before the first-day of the next calendar month following Landlord's service of a Projection Notice, and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of Tenant's Proportionate Share of Taxes and Expenses shown in the Projection Notice. Within fifteen (15) days following Landlord's Service of a Projection Notice. Tenant shall also pay Landlord lump sum equal to the monthly Tenant's Proportionate Share of Taxes and Expenses shown in the Pro- jection Notice for January to and including the month(s) in which the Projection Notice was sent (the "Gap Period") less tile sum of any previous payments of Additional Rent made during such Gap Period.

Payments of Additional Rent; Projections. Tenant shall pay Additional Rent to Landlord in the manner hereinafter provided. Landlord shall use reasonable efforts to provide Tenant with a statement prior to the beginning of each month showing the amount of Rent, but any failure of Landlord to provide such a statement prior to the beginning of any month shall in no way excuse or delay any payment of Additional Rent from Tenant required herein. If Landlord fails to provide such statement, Tenant shall pay Rent based on the previous month’s statement until Tenant receives the new statement. Subject to Subsection (C) below, Tenant shall make payments on account of its Additional Rent the Expense Adjustment and Tax Adjustment (such payments with respect to each year any Adjustment Year being called an “Additional Rent Progress Payment” and, in the aggregate, the “Additional Rent Progress Payments”) effective as of the first day of Adjustment Date for each calendar year (the "Adjustment Date") Year as follows: (iA) Landlord may, prior to each Adjustment Data Date or from time to time during the yearAdjustment Year in which such Adjustment Date falls (but not more than two times each for Taxes and Expenses each Adjustment Year, including the initial Projection Notice), deliver to Tenant a written notice or notices ('“Projection Notice"”) setting forth (A1) Landlord's ’s reasonable estimates, forecasts or projections (collectively, the "“Projections"”) of Expenses and Taxes for such Adjustment Year based on Landlord’s budgets of Expenses and Expenses estimate of Taxes, and (2) Tenant’s Additional Rent Progress Payments with respect to each component of Additional Rent for such year. and (B) Tenant's Proportionate Share of Taxes and Expenses with respect to such year Adjustment Year based upon the Projections. (iiB) Until With respect to Expenses, until such time as Landlord furnishes a Projection Notice with respect to any yearfor an Adjustment Year, Tenant shall shall, at the time of each payment of Monthly Base Rent, pay to Landlord a monthly installment of an Additional Rent (at Progress Payment with respect to the time Expenses component of and together with each payment of Monthly Base Rent) Additional Rent equal to the greater of the latest monthly installment of an Additional RentRent Progress Payment for Expenses or one-twelfth (1/12) of Tenant’s latest determined Expense Adjustment. On or before the first-first day of the next first calendar month following Landlord's ’s service of a Projection Notice (or if the Projection Notice is delivered after the fifteenth day of a month, then the second calendar month following service of such Projection Notice), and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of Tenant's Proportionate Share the Expenses component of Taxes and Expenses the Additional Rent Progress Payments shown in the Projection Notice. Within fifteen thirty (1530) days following Landlord's Service ’s service of a Projection Notice. , if the Projection Notice indicates an increase in the Expenses component of the Projection for the Adjustment Year, then Tenant shall also pay Landlord a lump sum equal to the monthly Tenant's Proportionate Share Expenses component of Taxes and Expenses shown in the Pro- jection Notice for January Additional Rent Progress Payments which, according to and including the month(s) in which the Projection Notice was sent (the "Gap Period") Notice, should have been paid to date less tile sum of any previous payments on account of the Expenses component of Additional Rent Progress Payment made during such Gap PeriodAdjustment Year. (C) Except as provided below, Tenant shall not be obligated to make monthly Additional Rent Progress Payments with respect to Tenant’s obligation hereunder to pay Tenant’s Proportionate Share for Taxes. Tenant shall, therefore, pay to Landlord (or as directed by Landlord in writing), beginning with Taxes due and payable in the Spring of 1999, Tenant’s Proportionate Share for Taxes of each installment of Taxes within two (2) weeks after receipt of a xxxx from Landlord relating to such installment of Taxes. During such time as a Material Default exists and is continuing, Tenant shall, at the time of each payment of Monthly Base Rent, pay to Landlord a monthly installment of Additional Rent Progress Payment with respect to the Taxes component of Additional Rent equal to one-twelfth (1/12) of the Tenant’s latest determined portion of Taxes for the applicable Adjustment Year (“Monthly Tax Deposits”). Tenant shall in no event be required to make any payments with respect to Taxes that become due and payable outside of the Term of this Lease. By way of example based on current real estate billing procedures, provided no Material Default exists, Tenant’s first payment toward Taxes shall be with respect to the first installment of 1998 Taxes payable in 1999, at which time Tenant shall pay Tenant’s Proportionate Share for Taxes of the entire amount of such installment. Likewise, assuming the Term ends on November 30, Tenant’s last payment toward Taxes shall be for the second installment payable in the last calendar year of the Term, at which time Tenant shall pay Tenant’s Proportionate Share for Taxes of the entire amount of such installment.

Payments of Additional Rent; Projections. Tenant shall make payments on account of its Additional Rent with respect to each year that Taxes and Expenses (on an aggregated basis per square foot of the Premises) exceed or are estimated to exceed Base Amount Taxes and Expenses, effective as of the first day of each calendar year (the "“Adjustment Date"”) as follows: (i) Landlord may, prior to each Adjustment Data Date or from time to time during the year, deliver to Tenant a written notice or notices ('“Projection Notice"”) setting forth (A) Landlord's ’s reasonable estimates, forecasts or projections (collectively, the "“Projections"”) of Taxes and Expenses with respect to such year. , and (B) Tenant's ’s Proportionate Share of Taxes and Expenses with respect to such year based upon the Projections. (ii) Until such time as Landlord furnishes a Projection Notice with respect to any year, Tenant shall pay to Landlord a monthly installment of Additional Rent (at the time of and together with each payment of Monthly Base Rent) equal to the latest monthly installment of Additional Rent. On or before the first-first day of the next calendar month following Landlord's ’s service of a Projection Notice, and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of Tenant's ’s Proportionate Share of Taxes and Expenses shown in the Projection Notice. Within fifteen (15) days following Landlord's Service ’s service of a Projection Notice. , Tenant shall also pay Landlord a lump sum equal to the monthly Tenant's ’s Proportionate Share of Taxes and Expenses shown in the Pro- jection Projection Notice for January to and including the month(s) in which the Projection Notice was sent (the "“Gap Period"”) less tile the sum of any previous payments of Additional Rent made during such Gap Period.

Payments of Additional Rent; Projections. Tenant shall make payments on account of its Additional Rent the Expense Adjustment and the Tax Adjustment (the aggregate of such payments with respect to each year any Adjustment Year being called “Additional Rent Progress Payment”) effective as of the first day of Adjustment Date for each calendar year (the "Adjustment Date") Year as follows: (i) Landlord may, prior to each Adjustment Data Date or from time to time during the yearAdjustment Year in which such Adjustment Date falls, but not less than once annually, deliver to Tenant a written notice or notices ('“Projection Notice"”) setting forth (A1) Landlord's ’s reasonable estimates, forecasts or projections (collectively, the "“Projections"”) of Taxes and Expenses for such Adjustment Year based on Landlord’s budgets of Expenses and estimate of Taxes, and (2) Tenant’s Additional Rent Progress Payment with respect to each component of Additional Rent for such year. and (B) Tenant's Proportionate Share of Taxes and Expenses with respect to such year Adjustment Year based upon the Projections. Landlord’s budget of Expenses and the Projections based thereon shall assume full occupancy and use of the Building and may be revised by Landlord from time to time based on changes in rates and other criteria which are components of budget items. (ii) Until such time as Landlord furnishes a Projection Notice with respect to any yearfor an Adjustment Year, Tenant shall shall, at the time of each payment of Monthly Base Rent, pay to Landlord a monthly installment of Additional Rent (at the time Progress Payment with respect to each component of and together with each payment of Monthly Base Rent) Additional Rent equal to the greater of the latest monthly installment of Additional RentRent Progress Payment or one-twelfth (1/12) of Tenant’s latest determined Expense Adjustment and Tax Adjustment. On or before the first-first day of the next calendar month following Landlord's ’s service of a Projection Notice, and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of Tenant's Proportionate Share of Taxes and Expenses the Additional Rent Progress Payment shown in the Projection Notice. Within fifteen (15) days following Landlord's Service ’s service of a Projection Notice. , Tenant shall also pay Landlord a lump sum equal to the monthly Tenant's Proportionate Share of Taxes and Expenses Additional Rent Progress Payment shown in the Pro- jection Notice for January to and including the month(s) in which the Projection Notice was sent less (the "Gap Period"1) less tile sum of any previous payments on account of Additional Rent Progress Payment made during such Gap PeriodAdjustment Year and (2) monthly installments on account of Additional Rent Progress Payment due for the remainder of such Adjustment Year.