Common use of Proration of Rental Adjustment Clause in Contracts

Proration of Rental Adjustment. If the Term does not commence on January 1 or does not end on December 31, Tenant's obligations to pay estimated and actual amounts towards increased Insurance and/or Real Estate Taxes for such first or final calendar year shall be prorated to reflect the portion of such year(s) included in the Term. Such proration shall be made by multiplying the total estimated or actual (as the case may be) increased insurance and/or Real Estate Taxes, (as the case may be) for such calendar year(s), as well as the base insurance amount and/or Base Real Estate Taxes, (as the case may be), by a fraction, the numerator of which shall be the number of days of the Term during such calendar year, and the denominator of which shall be three hundred sixty-five (365).

Appears in 4 contracts

Samples: Commercial Office Lease (Ask Jeeves Inc), Commercial Office Lease (Ask Jeeves Inc), Commercial Office Lease (Ask Jeeves Inc)

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