Common use of Reconciliation Statement Clause in Contracts

Reconciliation Statement. By April 30 of each calendar year, or as soon thereafter as practicable (but in no event later than June 30 of any calendar year, unless there is a pending tax contest or similar item beyond Landlord’s reasonable control), Landlord shall furnish to Tenant a statement of Operating Costs and Electrical Costs for the previous year, in each case adjusted as provided in Section 4.2.6, and of the Taxes for the previous year (the “Reconciliation Statement”). If Tenant’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for the year covered by the Reconciliation Statement exceed Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall credit or reimburse Tenant for such excess within 30 days after Landlord furnishes the Reconciliation Statement to Tenant; likewise, if Tenant’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord. If a reimbursement from Landlord or a payment from Tenant is due with respect to Tenant’s payments of estimated Additional Rent for the year in which the Term of the Lease expires, then such obligation shall survive expiration of the Lease and such reimbursement by Landlord or payment by Tenant, as applicable, shall be due within thirty (30) days of Landlord’s delivery of the Reconciliation Statement.

Reconciliation Statement. By April 30 of each Each calendar year, or as soon thereafter as practicable (but in no event later than June 30 of any calendar year, unless there is a pending tax contest or similar item beyond Landlord’s reasonable control), Landlord shall furnish to Tenant a statement of Operating Costs and Electrical Costs for the previous year, in each case adjusted as provided in Section 4.2.6Expenses, and of the Real Property Taxes for the previous year (the “Reconciliation Statement”). If Tenant’s estimated payments of Operating Costs, Expenses or Real Property Taxes or Electrical Costs under this Section 4.2 for the year covered by the Reconciliation Statement exceed Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall credit or reimburse Tenant for such excess within 30 days after Landlord furnishes the Reconciliation Statement to Tenantdays; likewise, if Tenant’s estimated payments of Operating Costs, Expenses or Real Property Taxes or Electrical Costs under this Section 4.2 for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord. If a reimbursement from The Reconciliation Statement shall be reasonably detailed. Upon request by Tenant, Landlord shall additionally promptly provide such back-up documentation for the calculation of Operating Expenses or a payment from Real Property Taxes as Landlord has in its records, and Landlord shall answer any questions Tenant is due may have with respect to Tenantsuch Reconciliation Statement and attempt in good faith to resolve any issues that Tenant may have with respect thereto. Provided no Default by Tenant then exists, after receiving an annual Reconciliation Statement and giving Landlord at least ten (10) business days prior written notice thereof, Tenant may inspect or audit Landlord’s payments of estimated Additional records relating to Rent for the year period of time covered by such Reconciliation Statement in accordance with the following provisions. Tenant’s audit or inspection shall be conducted where Landlord maintains its books and records, shall not unreasonably interfere with the conduct of Landlord’s business, and shall be conducted during normal business hours. Tenant shall pay the cost charged by Tenant’s auditors for such audit or inspection, unless the total Rent for the period in question is determined to have been misstated by more than 3% in the aggregate, in which case Landlord shall pay such audit cost. If such inspection or audit reveals that an error was made in the Term of the Lease expiresRent previously charged to Tenant, then Landlord shall refund to Tenant any overpayment of any such obligation costs, or Tenant shall survive expiration pay to Landlord any underpayment of the Lease and any such reimbursement by Landlord or payment by Tenantcosts, as applicablethe case may be, shall be due within thirty (30) days of Landlord’s delivery of the Reconciliation Statementafter notification thereof.

Reconciliation Statement. By April 30 Within ninety (90) days after the expiration of each calendar yearyear during the Term, or as soon thereafter as practicable (but in no event later than June 30 of any calendar year, unless there is a pending tax contest or similar item beyond Landlord’s reasonable control)reasonably practicable, Landlord shall furnish to Tenant submit a statement of Operating Costs and Electrical Costs for the previous year, in each case adjusted as provided in Section 4.2.6, and of the Taxes for the previous year (the “Reconciliation Statement”)) to Tenant showing the actual Taxes and Assessments and Landlord’s Insurance premiums due from Tenant for such calendar year. If Tenantfor any calendar year, Txxxxx’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for therefor exceed the year covered by the Reconciliation Statement exceed actual amount due from Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall give Tenant a credit in the amount of the overpayment toward Tenant’s next monthly payments of Monthly Rent (until exhausted), or, in the event the Lease has expired or reimburse terminated and no Default by Tenant for exists, Landlord shall pay Tenant the total amount of such excess within 30 days after Landlord furnishes upon delivery of the Reconciliation Statement to Tenant; likewise. If for any calendar year, if TenantTxxxxx’s estimated payments of Operating Costs, Taxes or Electrical Costs under this Section 4.2 for such year are less than the actual amount due from Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord the total amount of such deficiency within 30 days of invoice from Landlord. If a reimbursement from to Landlord or a payment from Tenant is due with respect to Tenant’s payments of estimated Additional Rent for the year in which the Term of the Lease expires, then such obligation shall survive expiration of the Lease and such reimbursement by Landlord or payment by Tenant, as applicable, shall be due within thirty (30) days of Landlord’s delivery after receipt of the Reconciliation StatementStatement from Landlord. If Tenant so requests in writing within thirty (30) days after receipt of the Reconciliation Statement for a calendar year, Landlord shall furnish Tenant with a copy of invoices or receipts for Taxes and Assessments and Landlord’s Insurance for such calendar year. Lxxxxxxx’s and Tenant’s obligations with respect to any overpayment or underpayment of Taxes and Assessments and Landlord’s Insurance shall survive the expiration or termination of this Lease.

Reconciliation Statement. By April 30 of each calendar year, or as soon thereafter as practicable (but in no event later than June 30 of any calendar year, unless there is a pending tax contest or similar item beyond Landlord’s reasonable control), Landlord shall furnish to Tenant a statement of Operating Costs and Electrical Costs for the previous year, in each case adjusted as provided in Section 4.2.64.2.5, and of the Taxes for the previous year (the “Reconciliation Statement”). Landlord shall use commercially reasonable efforts to deliver the Reconciliation Statement to Tenant within one hundred eighty (180) days after the expiration of each calendar year provided that Landlord's failure to deliver such Reconciliation Statement to Tenant within said period shall not constitute Landlord's waiver of its right to collect said amounts or otherwise prejudice Landlord's rights hereunder. If Tenant’s estimated payments of Excess Operating Costs, Costs or Excess Taxes or Electrical Costs under this Section 4.2 for the year covered by the Reconciliation Statement exceed TenantXxxxxx’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Landlord shall credit or reimburse Tenant for such excess within 30 days after Landlord furnishes the Reconciliation Statement to Tenantdays; likewise, if Tenant’s estimated payments of Excess Operating Costs, Costs or Excess Taxes or Electrical Costs under this Section 4.2 for such year are less than Tenant’s Proportionate Share of such items as indicated in the Reconciliation Statement, then Tenant shall pay Landlord such deficiency within 30 days of invoice from Landlord. If a reimbursement from Landlord or a payment from Tenant is due with respect to Tenant’s payments of estimated Additional Rent for the year in which the Term of the Lease expires, then such obligation shall survive expiration of the Lease and such reimbursement by Landlord or payment by Tenant, as applicable, shall be due within thirty (30) days of Landlord’s delivery of the Reconciliation Statement.