Rent Adjustment Payment. A. Prior to the commencement of the Term, Landlord shall deliver to Tenant a written statement setting forth Landlord’s good faith estimate of Taxes and Operating Costs (a “Taxes and Operating Cost Statement”) for the remainder of the calendar year in which the Term commences. Thereafter, prior to January 1 of each subsequent calendar year, or from time to time during each subsequent calendar year, Landlord shall deliver an estimated Taxes and Operating Cost Statement pertaining to each such forthcoming calendar year. Commencing with the first month to which an estimate applies and on the first day of each calendar month thereafter during the Term, Tenant shall pay one-twelfth (1/12th) of Taxes and Operating Costs as estimated by Landlord (prorated for any partial calendar month). On or before the first day of June of each calendar year after the initial year of the Term, Landlord shall furnish to Tenant a written statement showing in reasonable detail actual Operating Costs and Taxes for the preceding year for which such statement is furnished and showing the amount, if any, of rental adjustment due for such year.
Rent Adjustment Payment. Beginning with the calendar year in which the Commencement Date occurs and in subsequent years during the term of this Lease, LESSEE shall pay to the LESSOR monthly installments of one-twelfth of the amounts due to LESSOR under Paragraphs 5.3.1 and 5.3.2 on account of projected Taxes for such year, calculated by the LESSOR on the basis of the best and most recent data available as set forth in a statement from LESSOR (and, when available, based upon the real estate tax bill xxxering any such period) . Appropriate adjustments of estimated amounts shall be made between LESSOR and LESSEE promptly after LESSOR shall have received the tax bill xxxering any such period.
Rent Adjustment Payment. Beginning on the Commencement Date, and in subsequent years during the Term of this Lease, LESSEE shall pay to the LESSOR monthly installments of one-twelfth of the amounts due to LESSOR under Paragraphs 5.4.1 and 5.4.2 on account of projected Taxes for such year, calculated by the LESSOR on the basis of the best and most recent data available as set forth in a statement from LESSOR (and, when available, based upon the real estate tax bill xxxering any such period). Appropriate adjustments of estimated amounts shall be made between LESSOR and LESSEE promptly after LESSOR shall have received the tax bill xxxering any such period (or refunded, if applicable, after the Lease term).
Rent Adjustment Payment. Beginning with the calendar year in ------------------------- which the Commencement Date occurs and in subsequent years during the Term of this Lease, LESSEE shall pay to the LESSOR monthly installments of one-twelfth (1/12) of the amounts due to LESSOR under Paragraphs 5.4.1 and 5.4.2 on account of projected Taxes for such year, calculated by the LESSOR on the basis of the best and most recent data available as set forth in a statement from LESSOR (and, when available, based upon the real estate tax xxxx covering any such period). Appropriate adjustments of estimated amounts shall be made between LESSOR and LESSEE promptly after LESSOR shall have received the tax xxxx covering any such period.
Rent Adjustment Payment. A. Prior to January 1 of each subsequent calendar year, or from time to time, Landlord shall deliver a statement setting forth Landlord’s good faith estimate of Tenant’s share of Taxes and Operating Costs (“Taxes and Operating Cost Statement”) pertaining to each such forthcoming calendar year. Commencing on the first full calendar month of the Term and on the first day of each calendar month thereafter during the Term, Tenant shall pay one-twelfth (1/12th) of Tenant’s Share of Taxes and Operating Costs as estimated by Landlord. Not later than on or before the first day of April of each calendar year after the initial year of the Term, Landlord shall furnish to Tenant a written statement (including tax and insurance xxxxxxxx and a reasonably detailed operating and expense statement) showing in reasonable detail actual Operating Costs and Taxes for the preceding year for which such statement is furnished and showing the amount, if any, of rental adjustment due for such year.
Rent Adjustment Payment. Beginning with the calendar year in which the Commencement Date occurs and in subsequent years during the Term of this Lease, LESSEE shall pay to the LESSOR monthly installments of one-twelfth of the amounts due to LESSOR under Paragraphs 5.4.1 and 5.4.2 on account of projected Taxes for such year, calculated by the LESSOR on the basis of the best and most recent data available as set forth in a statement from LESSOR (and, when available, based upon the real estate tax bill xxxering any such period). Appropriate adjustments of estimated amounts shall be made between LESSOR and LESSEE promptly after LESSOR shall have received the tax bill xxxering any such period. The LESSEE shall have the right to inspect and audit the LESSOR's books as they relate to the calculation of CAO Building expenses and Taxes. The expense of inspecting and auditing LESSOR's books, as aforesaid, shall be borne by LESSEE, unless said audit results in a variance 10 which is greater than five (5%) percent, in which event the cost of the audit shall be borne by LESSOR.
Rent Adjustment Payment. On or before the first day of April of each calendar year after the Base Year, LANDLORD shall endeavor to furnish to TENANT a written statement showing in reasonable detail OPERATING COSTS and TAXES for the Base Year and for the Comparison Year preceding the year in which such statement is furnished and showing the amount, if any, of rental adjustment due from TENANT for such Comparison year. On the monthly rental payment date (the "adjustment date") next following TENANT'S receipt of each such annual statement, TENANT shall pay to LANDLORD as additional rent an amount equal to the Sum of (a) the "net rental adjustment" for the entire preceding calendar year (being the aggregate rental adjustment shown on each such annual statement less the amount, if any, by which (i) the total rent paid by TENANT during the preceding calendar year (including all adjustment to monthly rental as herein provided), exceeded (ii) the Base Rent and (b) one-twelfth (1/12th) of such "net rental adjustment" for the present calendar year multiplied by the number of monthly rental payment dates (including the adjustment date) having elapsed for such present calendar year. Subsequent monthly rental payments shall thereafter be increased by one-twelfth (1/12th) of such "net rental adjustment". In the event that any such settlement required above indicates that the total additional rent paid by TENANT during the preceding calendar year exceeds the aggregate rental payable by TENANT for such calendar year pursuant to Section 6 and Section 7, LANDLORD shall apply such excess on any amounts of additional rent next falling due under this Lease as long as TENANT is not then in default of any of the terms and provisions of this Lease. The annual determination and statement of TAXES and OPERATING COSTS shall be prepared in accordance with generally acceptable accounting principles. In the event of any dispute as to any additional rental due hereunder, TENANT shall have the right to inspect LANDLORD'S accounting records relative to TAXES and OPERATING COSTS at LANDLORD's accounting office during normal business hours at any time within sixty (60) days following the furnishing by LANDLORD to TENANT of such statement. However, any such audit may not be limited to the preceding year. If such audit discloses an error in LANDLORD's computations to the detriment of TENANT by more than five (5%) percent of the amount billed for a single year, then LANDLORD shall reimburse TENANT the reasonable costs...
Rent Adjustment Payment. A. Sixty (60) days prior to the commencement of the second year of the Lease Term, Landlord shall deliver to Tenant a written statement setting forth Landlord's good faith estimate of Xxxxxx's Share of Taxes and Property Operating Costs ("Taxes and Property Operating Cost Statement") for the remainder of the calendar year in which the second year of the Lease Term commences. Thereafter, prior to January 1 of each subsequent calendar year, or from time to time during each subsequent calendar year, Landlord shall deliver an estimated Taxes and Property Operating Cost Statement pertaining to each such forthcoming calendar year. Commencing on the first full calendar month of the second year of the Lease Term and on the first day of each calendar month thereafter during the Lease Term, Tenant shall pay one-twelfth (1/12TH) of Tenant's Share of Taxes and Property Operating Costs as estimated by Landlord. On or before the first day of June of each calendar year after the second year of the Lease Term, Landlord shall furnish to Tenant a written statement showing in reasonable detail actual Property Operating Costs and Taxes for the preceding year for which such statement is furnished and showing the amount, if any, of rental adjustment due for such year.
Rent Adjustment Payment. A. At lease execution, Landlord shall deliver to Tenant a written statement setting forth Landlord’s good faith estimate of Taxes and Operating Costs (a “Taxes and Operating Cost Statement”) for the calendar year in which the Term commences. Thereafter, not later than November 1 of each subsequent calendar year, and from time to time during each subsequent calendar year, Landlord shall deliver an estimated Taxes and Operating Cost Statement pertaining to each such forthcoming calendar year. Commencing on the first full calendar month of the Term and on the first day of each calendar month thereafter during the Term, Tenant shall pay one-twelfth (1/12th) of Taxes (only to the extent a reserve for Taxes is required by Landlord’s mortgagee) and one twelfth (1/12th) of Operating Costs as estimated by Landlord. Not less than on or before the first day of May of each calendar year after the initial year of the Term, Landlord shall furnish to Tenant a written statement certified by an officer of Landlord showing in reasonable detail actual Operating Costs and Taxes for the preceding year for which such statement is furnished and showing the amount, if any, of rental adjustment due for such preceding year (the “Annual Statement”).
Rent Adjustment Payment. Beginning on the Rent Commencement Date and in subsequent years during the term of this Sublease, SUBLESSEE shall pay to the SUBLESSOR monthly installments of one-twelfth of the amounts due to LESSOR under Paragraphs 5.4.1 and 5.4.2
