Common use of Reconciliation of Expenses Clause in Contracts

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar year. Tenant shall pay the excess amount so specified to Landlord within fifteen (15) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") are due or the final year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses shall exceed the actual amount of Expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen (15) days following receipt by Tenant of Landlord's letter.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxxbill, the xxe insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such each calendar year. Tenant shall pay the excess amount so specified to Landlord within fifteen (15) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") are due or the final finax 9 year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses shall exceed the actual amount of Expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen (15) days following receipt by Tenant of Landlord's letter.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar year. Tenant shall pay the excess amount so specified to Landlord within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") are due or the final -------- year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses shall exceed the actual amount of Expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter.

Reconciliation of Expenses. If Tenant’s Share of Expenses as finally determined for the year exceeds the total payments made by Tenant on account thereof, Tenant shall pay Landlord the deficiency within thirty (30) days of Tenant’s receipt of Landlord’s statement. If the total payments made by Tenant on account thereof exceed Tenant’s Share of Expenses as finally determined for the year, Tenant’s excess payment shall be credited toward Tenant’s payment toward Expenses next due under this Lease; provided that Landlord shall promptly notify Tenant reimburse any overpayment of Expenses after the expiration of the total actual (i) Taxes assessed against Term. For any partial calendar year at the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy beginning or end of the tax or special assessment xxxxTerm, Tenant’s Share of Expenses shall be prorated on the insurance invoicebasis of a 365-day year by computing Tenant’s Share for the entire year and then prorating such amount for the number of days during such year included in the Term. Landlord shall maintain complete and accurate records of all Expenses. Landlord’s records of its Expenses shall be kept using accounting practices consistently maintained on a year-to-year basis, or the calculation of CAM Expensein accordance with good accounting practices, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar yearconsistently applied. Tenant shall pay have the excess amount so specified to Landlord within fifteen (15) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant right, at Tenant’s expense and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") are due or the final year of the term hereof do not coincide with the no more frequently than once per calendar year, Tenant's pro rata share of to inspect Landlord’s books and records showing Expenses for the portion calendar year in question; provided, however, Tenant shall not have the right to withhold any payments of that year shall Tenant’s Share of Expenses due and payable hereunder the amount of which may be prorated according in dispute, and Tenant must pay the entire amount due and payable hereunder prior to the number of months during which Tenant was in possession of the Premisesreviewing Landlord’s books and records. In the event Tenant’s inspection of Landlord's estimation ’s books and records reveals a verifiable error in Landlord’s computation of Tenant’s Share of Expenses shall exceed the resulting in an overpayment by Tenant in excess of five percent (5%) of Tenant’s actual amount Share of Expenses, Landlord shall promptly reimburse the amount paid by of such overpayment to Tenant, together with interest thereon from the date of overpayment until the date of reimbursement at the Interest Rate. The foregoing notwithstanding, Landlord shall be permitted to dispute Tenant’s determination of actual Expenses prior to its obligation to reimburse Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment any overpayment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen (15) days following receipt by Tenant of Landlord's letterExpenses.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar year. Tenant shall pay the excess amount so specified to Landlord within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") are due or the final year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses shall exceed the actual amount of Expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. In the event Tenant shall dispute the amount set forth in any statement provided by Landlord under this subparagraph (e), Tenant shall have the right, not later than thirty days following the receipt of such statement and upon condition that Tenant shall first deposit with Landlord the undisputed portion, if any, to elect to have Landlord's books and records with respect to such calendar year to be audited by auditors selected by Tenant and subject to Landlord's reasonable approval. Such audit must be completed no later than 60 days after receipt of Landlord's letter, with such time limit to be extended due to delays caused by Landlord. All costs for the audit shall be borne by Tenant unless the audit disclosed an overcharge of ten percent or more, in which case the costs of the audit not to exceed $1,000 shall be borne by Landlord. If Tenant shall not request an audit in accordance with the provisions of this paragraph within thirty days of receipt of Landlord's statement provided pursuant to this subparagraph (e), such statement shall be final and binding for all purposes hereof.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against operating expenses for the Land Premises and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar lease year. Tenant shall pay the excess amount so specified to Landlord within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") operating expenses are due or the final year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses operating expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses operating expenses shall exceed the actual amount of Expensesoperating expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. In the event Tenant shall dispute the amount set forth in any statement provided by Landlord under this subparagraph (e), Tenant shall have the right, not later than thirty days following the receipt of such statement and upon condition that Tenant shall first deposit with Landlord the undisputed portion, if any, to elect to have Landlord's books and records with respect to such calendar year to be audited by auditors selected by Tenant and subject to Landlord's reasonable approval. Such audit must be completed no later than 60 days after receipt of Landlord's letter, with such time limit to be extended due to delays caused by Landlord. All costs for the audit shall be borne by Tenant unless the audit disclosed an overcharge of ten percent or more, in which case the costs of the audit not to exceed $1,000 shall be borne by Landlord. If Tenant shall not request an audit in accordance with the provisions of this paragraph within thirty days of receipt of Landlord's statement provided pursuant to this subparagraph (e), such statement shall be final and binding for all purposes hereof.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against the Land and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's ’s pro rata share thereof, and (ii) the excess, if any, of Tenant's ’s pro rata share over Landlord's ’s estimation for such calendar year. Tenant shall pay the excess amount so specified to Landlord within fifteen thirty (1530) days following receipt by Tenant of Landlord's ’s letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's ’s obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's ’s pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "“Expenses"”) are due or the final year of the term hereof do not coincide with the calendar year, Tenant's ’s pro rata share of Expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's ’s estimation of Expenses shall exceed the actual amount of Expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen thirty (1530) days following receipt by Tenant of Landlord's ’s letter. In the event Tenant shall dispute the amount set forth in any statement provided by Landlord under this subparagraph (e), Tenant shall have the right, not later than thirty days following the receipt of such statement and upon condition that Tenant shall first deposit with Landlord the undisputed portion, if any, to elect to have Landlord’s books and records with respect to such calendar year to be audited by auditors selected by Tenant and subject to Landlord’s reasonable approval. Such audit must be completed no later than 60 days after receipt of Landlord’s letter, with such time limit to be extended due to delays caused by Landlord. All costs for the audit shall be borne by Tenant unless the audit disclosed an overcharge of ten percent or more, in which case the costs of the audit not to exceed $1,000 shall be borne by Landlord. If Tenant shall not request an audit in accordance with the provisions of this paragraph within thirty days of receipt of Landlord’s statement provided pursuant to this subparagraph (e), such statement shall be final and binding for all purposes hereof.

Reconciliation of Expenses. Landlord shall promptly notify Tenant of the total actual (i) Taxes assessed against operating expenses for the Land Premises and the Building, (ii) Insurance Expense, and (iii) CAM Expense, attaching a copy of the tax or special assessment xxxx, the insurance invoice, or the calculation of CAM Expense, as applicable, and shall specify (i) Tenant's pro rata share thereof, and (ii) the excess, if any, of Tenant's pro rata share over Landlord's estimation for such calendar lease year. Tenant shall pay the excess amount so specified to Landlord within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter. Failure by Tenant to pay Landlord such amount within the period designated shall constitute a non-payment of rent by Tenant and a default of Tenant's obligation under the Lease, and Landlord shall be entitled to all remedies provided for in this Lease upon default in payment of rent. If the first year for which Tenant's pro rata share of Taxes, Insurance Expense, or CAM Expense (hereinafter collectively, the "Expenses") operating expenses are due or the final year of the term hereof do not coincide with the calendar year, Tenant's pro rata share of Expenses operating expenses for the portion of that year shall be prorated according to the number of months during which Tenant was in possession of the Premises. In the event Landlord's estimation of Expenses operating expenses shall exceed the actual amount of Expensesoperating expenses, the amount paid by Tenant for such year shall be adjusted between Landlord and Tenant and Tenant shall receive a credit against the next due installment of rent hereunder in such excess amount unless this Lease has expired or been otherwise terminated, in which event Landlord shall pay to Tenant such excess amount within fifteen thirty (1530) days following receipt by Tenant of Landlord's letter.. In the event Tenant shall dispute the amount set forth in any statement provided by Landlord under this subparagraph (e), Tenant shall have the right, not later than thirty days following the receipt of such statement and upon condition that Tenant shall first deposit with Landlord the undisputed portion, if any, to elect to have Landlord's books and records with respect to such calendar year to be audited by auditors selected by Tenant and subject to Landlord's