Common use of Readjustments Clause in Contracts

Readjustments. On or about April 1st following the end of each Adjustment Year, or at such later time as Landlord shall be able to determine the actual amounts of Operating Expenses and Taxes for the Adjustment Year last ended, Landlord shall notify Tenant in writing of such actual amounts. If such actual amounts exceed the Projections for such Adjustment Year, then Tenant shall, within 30 days after the date of such written notice from Landlord, pay to Landlord an amount equal to the excess of the Adjusted Monthly Base Rent payable for the Adjustment Year last ended based upon actual Operating Expenses and Taxes for such year over the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year. The obligation to make such payments shall survive the expiration or earlier termination of the Term. If the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year exceeds the amount thereof payable for such year based upon actual Operating Expenses and Taxes for such Adjustment Year, then Landlord shall credit such excess to installments of Adjusted Monthly Base Rent payable after the date of Landlord's notice until such excess has been exhausted, or if this Lease shall expire prior to full application of such excess, Landlord shall pay to Tenant the balance thereof not theretofore applied against Rent. No interest or penalties shall accrue on any amounts which Tenant is obligated to pay to Landlord or which Landlord is obligated to credit or pay to Tenant by reason of this Paragraph.

Readjustments. On or about April 1st lst following the end of each Adjustment Year, or at such later time as Landlord shall be able to determine the actual amounts of Operating Expenses and Taxes for the Adjustment Year last ended, Landlord shall notify Tenant in writing of such actual amounts. If such actual amounts exceed the Projections for such Adjustment Year, then Tenant shall, within 30 thirty (30) days after the date of such written notice from Landlord, Landlord pay to Landlord an amount equal to the excess of the Adjusted Monthly Base Rent payable for the Adjustment Year last ended based upon actual Operating Expenses and Taxes for such year over the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year. The obligation to make such payments shall survive the expiration or earlier termination of the Term. If the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year exceeds the amount thereof payable for such year based upon actual Operating Expenses and Taxes for such Adjustment Year, then Landlord shall credit such excess to installments of Adjusted Monthly Base Rent payable after the date of Landlord's notice until such excess has been exhausted, or if this Lease shall expire prior to full application of such excess, Landlord shall shall, within thirty (30) days after such written notice, pay to Tenant the balance thereof not theretofore applied against Rent. No interest or penalties shall accrue on any amounts which Tenant is obligated to pay to Landlord or which Landlord is obligated to credit or pay to Tenant by reason of this ParagraphSection.

Readjustments. On or about April 1st following the end of each Adjustment Year, or at such later time as Landlord shall be able to determine the actual amounts of Operating Expenses and Taxes Costs for the Adjustment Year last endedended adjusted in accordance with this Section, Landlord shall notify Tenant in writing of such actual amounts. If such actual amounts exceed the Projections for such Adjustment Year, then the Tenant shall, within 30 thirty (30) days after the date of such written notice from Landlord, pay to Landlord an amount equal its proportionate share of the excess based on the Net Rentable Area of the Premises as compared to the excess of the Adjusted Monthly Base Rent payable for the Adjustment Year last ended based upon actual Operating Expenses and Taxes for such year over the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Yearrentable office area. The obligation to make such payments shall survive the expiration or earlier termination of the Term. If the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year exceeds the amount thereof payable for such year based upon actual Operating Expenses and Taxes Costs for such Adjustment Year, then Landlord shall credit such excess to installments of Adjusted Monthly Base Rent payable after the date of Landlord's notice until such excess has been exhausted, or if this Lease shall expire prior to full application of such excess, Landlord shall pay to Tenant the balance thereof not theretofore theretofor applied against Rent. No interest or penalties shall accrue on any amounts which Tenant is obligated to pay to Landlord or which Landlord is obligated to credit or to pay to Tenant by reason of this ParagraphSection. Notwithstanding any provision hereof to the contrary, in no event shall there be any readjustment as herein provided such that the Adjusted Monthly Base Rent shall be less than the initial Monthly Base Rent as specified in 1.01H hereof.

Readjustments. On or about April 1st At any time and from time to time following the end of each Adjustment Year, or at such later time as year (and after Landlord shall be able to determine have determined the actual amounts of Operating Taxes and Expenses to be used in calculating Tenant’s Proportionate Share of Taxes and Expenses with respect to such year) if the actual Tenant’s Proportionate Share of Taxes for the Adjustment Year last ended, Landlord shall notify Tenant in writing of such actual amounts. If such actual amounts exceed the Projections and Expenses owed for such Adjustment Yearyear exceeds the Additional Rent paid by Tenant during such year, then Tenant shall, within 30 thirty (30) days after the date of such written notice from Landlord’s statement, pay to Landlord an amount equal to such excess. If the excess of the Adjusted Monthly Base Rent payable for the Adjustment Year last ended based upon actual Operating Expenses and Taxes for such year over the total Adjusted Monthly Base Additional Rent paid by Tenant during such Adjustment Year. The obligation to make such payments shall survive the expiration or earlier termination of the Term. If the total Adjusted Monthly Base Rent paid by Tenant during such Adjustment Year year exceeds the amount thereof payable actual Tenant’s Proportionate Share of Taxes and Expenses owed for such year based upon actual Operating Expenses and Taxes for such Adjustment Yearyear, then Landlord shall credit such excess to installments of Adjusted Monthly Base Rent payable after the date of Landlord's notice ’s statement until such excess has been exhausted, or if . If this Lease lease shall expire prior to full application of such excess, Landlord shall promptly pay to Tenant the balance thereof not theretofore applied against RentRent and not reasonably required for payment of Additional Rent for the year in which the lease expires. No interest or penalties shall accrue on any amounts which Tenant is obligated to pay to Landlord or which Landlord is obligated to credit or pay to Tenant by reason of this ParagraphSection 2(d). Unless Tenant shall take written exception to any item within one hundred eighty (180) days after the furnishing of Landlord’s statement, Landlord’s statement shall be considered final and accepted by Tenant.