Common use of Pro-Ration Clause in Contracts

Pro-Ration. If the Term shall commence on any day other than January 1 or expire or earlier terminate on any date other than December 31, Subtenant’s obligations under Section 3.3.1 for such first or last partial calendar year shall be prorated on the basis of (a) the number of days elapsed during such calendar year during which this Sublease is in effect bears to (b) 365. In the event that the Term shall expire or earlier terminate on any date other than December 31, for purposes of Section 3.3.1, Sublandlord may either reasonably project, as of the date of such expiration or termination, the Operating Expenses for such calendar year and bxxx Subtenant for Subtenant’s share thereof at any time thereafter or wait until receipt of Master Landlord’s calculation thereof for the entire calendar year in question and bxxx Subtenant for Subtenant’s share of Subtenant’s share thereof at any time thereafter; provided, however, if Sublandlord reasonably projects the amount of such Operating Expenses, Sublandlord shall reconcile such projection with the actual Operating Expenses due following the receipt of the actual annual statement of Operating Expenses for such calendar year and shall follow the terms of Section 9.4(a) of the Original Master Lease with respect to the amounts owed or to be reimbursed. If the obligation to pay any component of Rent under this Sublease commences on a day other than the first day of a calendar month, or if the Term of this Sublease terminates on a day other than the last day of a calendar month, the Rent for such first or last month of the Term shall be prorated based on the number of days the Term of this Sublease is in effect during such month. If an increase in Rent becomes effective on a day other than the first day of a calendar month, the calculation of Rent for such month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is in effect.

Appears in 1 contract

Samples: Sub Sublease (Assembly Biosciences, Inc.)

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Pro-Ration. If the Term shall commence on any day other than January 1 or expire or earlier terminate on any date other than December 31, Sub-Subtenant’s obligations under Section 3.3.1 for such first or last partial calendar year shall be prorated on the basis of (a) the number of days elapsed during such calendar year during which this Sub-Sublease is in effect bears to (b) 365. In the event that the Term shall expire or earlier terminate on any date other than December 31, for purposes of Section 3.3.1, Sub-Sublandlord may either reasonably project, as of the date of such expiration or termination, the Operating Expenses for such calendar year and bxxx Sub-Subtenant for Sub-Subtenant’s share thereof at any time thereafter or wait until receipt of Master Landlord’s calculation thereof for the entire calendar year in question and bxxx Sub-Subtenant for Subtenant’s share of Sub-Subtenant’s share thereof at any time thereafter; provided, however, if Sub-Sublandlord reasonably projects the amount of such Operating Expenses, Sub-Sublandlord shall reconcile such projection with the actual Operating Expenses due following the receipt of the actual annual statement of Operating Expenses for such calendar year and shall follow the terms of Section 9.4(a) of the Original Master Lease with respect to the amounts owed or to be reimbursed. Sub-Sublandlord shall from time to time equitably adjust the estimated Operating Expenses payable by Sub-Subtenant to reflect, with respect to the then-current calendar year, (i) the delivery by Sub-Sublandlord to Sub-Subtenant of any Delivery Portion during such calendar year and the increase in the Proportional Share of Operating Expenses in connection therewith and (ii) any increase or decrease in the Occupied Subleased Premises and the increase or decrease, as applicable, in the Proportional Share of Operating Expenses in connection therewith; provided, that for purposes of this Section 3.3, the Occupied Subleased Premises shall not be deemed to decrease as a result of Sub-Sublandlord’s failure to occupy any portion of the Subleased Premises that is occupied by Sub-Sublandlord as of the Effective Date. If the obligation to pay any component of Rent under this Sub-Sublease commences on a day other than the first day of a calendar month, or if the Term of this Sub-Sublease terminates on a day other than the last day of a calendar month, the Rent for such first or last month of the Term shall be prorated based on the number of days the Term of this Sub-Sublease is in effect during such month. If an increase in Rent becomes effective on a day other than the first day of a calendar month, the calculation of Rent for such month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is in effect.

Appears in 1 contract

Samples: Sub Sublease (Assembly Biosciences, Inc.)

Pro-Ration. If the Term shall commence on any day other than January 1 or expire or earlier terminate on any date other than December 31, Subtenant’s obligations under Section 3.3.1 for such first or last partial calendar year shall be prorated on the basis of (a) the number of days elapsed during such calendar year during years in which this Sublease is in effect bears to (b) 365. In the event that the Term shall expire or earlier terminate on any date other than December 31, for purposes of Section 3.3.1, Sublandlord may either reasonably project, as of the date of such expiration or termination, the Operating Expenses for such calendar year and bxxx xxxx Subtenant for Subtenant’s share thereof at any time thereafter or wait until receipt of Master Landlord’s calculation thereof for the entire calendar year in question and bxxx xxxx Subtenant for Subtenant’s share of Subtenant’s share thereof at any time thereafter; provided, however, if Sublandlord reasonably projects the amount of such Operating Expenses, Sublandlord shall reconcile such projection with the actual Operating Expenses due following the receipt of the actual annual statement of Operating Expenses for such calendar year and shall follow the terms of Section 9.4(a) of the Original Master Lease with respect to the amounts owed or to be reimbursed. If the obligation to pay any component of Rent under this Sublease commences on a day other than the first day of a calendar month, or if the Term of this Sublease terminates on a day other than the last day of a calendar month, the Rent for such first or last month of the Term shall be prorated based on the number of days during the Term of this Sublease is in effect during such month. If an increase in Rent becomes effective on a day other than the first day of a calendar month, the calculation of Rent payable for such month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is in effect.

Appears in 1 contract

Samples: Sublease (NGM Biopharmaceuticals Inc)

Pro-Ration. If the Term shall commence on any day other than January 1 or expire or earlier terminate on any date other than December 31, Sub- Subtenant’s obligations under Section 3.3.1 3.4.1 for such first or last partial calendar year shall be prorated on the basis of (a) the number of days elapsed during such calendar year during which this Sub-Sublease is in effect bears to (b) 365. In the event that the Term shall expire or earlier terminate on any date other than December 31, for purposes of Section 3.3.13.4.1, Sub-Sublandlord may either reasonably project, as of the date of such expiration or termination, the Building Operating Expenses for such calendar year and bxxx Sub-Subtenant for Subtenant’s share thereof at any time thereafter or wait until receipt of Master Landlord’s calculation thereof for the entire calendar year in question and bxxx Subtenant for Subtenant’s share of Sub-Subtenant’s share thereof at any time thereafter; provided, however, if Sub-Sublandlord reasonably projects the amount of such Building Operating Expenses, Sub-Sublandlord shall reconcile such projection with the actual Building Operating Expenses due following the receipt delivery to Sub-Subtenant of the actual annual statement of Building Operating Expenses for such calendar year and year. If on the basis of such statement Sub-Subtenant owes an amount that is more or less than the estimated payments for such calendar previously made by Sub-Subtenant, Sub-Subtenant or Sub-Sublandlord, as the case may be, shall follow pay the terms of Section 9.4(adeficiency to the other Party within thirty (30) days after delivery of the Original Master Lease statement. Sub-Sublandlord shall from time to time equitably adjust the estimated Building Operating Expenses payable by Sub-Subtenant to reflect, with respect to the amounts owed or then-current calendar year, (i) the delivery by Sub-Sublandlord to be reimbursed. If the obligation to pay Sub-Subtenant of any component of Rent under this Sublease commences on a day other than the first day of a calendar month, or if the Term of this Sublease terminates on a day other than the last day of a calendar month, the Rent for such first or last month of the Term shall be prorated based on the number of days the Term of this Sublease is in effect Delivery Portion during such month. If an calendar year and the increase in Rent becomes effective on a day other than the first day Proportional Share of a calendar monthBuilding Operating Expenses in connection therewith and (ii) any increase or decrease in the Occupied Subleased Premises and the increase or decrease, as applicable, in the calculation in the Proportional Share of Rent for such month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is Building Operating Expenses in effectconnection therewith.

Appears in 1 contract

Samples: Sub Sublease (Assembly Biosciences, Inc.)

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Pro-Ration. If the Term shall commence on any day other than January 1 or expire or earlier terminate on any date other than December 31, Subtenant’s obligations under Section 3.3.1 for such first or last partial calendar year shall be prorated on the basis of (a) the number of days elapsed during such calendar year during which this Sublease is in effect bears to (b) 365. In the event that the Term shall expire or earlier terminate on any date other than December 31, for purposes of Section 3.3.1, Sublandlord may either reasonably project, as of the date of such expiration or termination, the Operating Expenses for such calendar year and bxxx xxxx Subtenant for Subtenant’s share thereof at any time thereafter or wait until receipt of Master Landlord’s calculation thereof for the entire calendar year in question and bxxx xxxx Subtenant for Subtenant’s share of Subtenant’s share thereof at any time thereafter; provided, however, if Sublandlord reasonably projects the amount of such Operating Expenses, Sublandlord shall reconcile such projection with the actual Operating Expenses due following the receipt of the actual annual statement of Operating Expenses for such calendar year and shall follow the terms of Section 9.4(a) of the Original Master Lease with respect to the amounts owed or to be reimbursed. If the obligation to pay any component of Rent under this Sublease commences on a day other than the first day of a calendar month, or if the Term of this Sublease terminates on a day other than the last day of a calendar month, the Rent for such first or last month of the Term shall be prorated based on the number of days the Term of this Sublease is in effect during such month. If an increase in Rent becomes effective on a day other than the first day of a calendar month, the calculation of Rent for such month shall be the sum of the two applicable rates, each prorated for the portion of the month during which such rate is in effect.

Appears in 1 contract

Samples: Sublease (Prothena Corp PLC)

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