Service Charge Statements Sample Clauses

Service Charge Statements. After the end of each Accounting Period, the Landlord will supply the Tenant with a statement (the "Service Charge Statement") for that Accounting Period of: the Service Costs; and the Service Charge payable.83 The Landlord must take reasonable steps to supply the Service Charge Statement within four months after the end of each Accounting Period. The Service Charge Statement must include a certificate signed by the Landlord or the Landlord's managing agent, accountant or surveyor (who may be an employee of either the Landlord or a Group Company of the Landlord) certifying that it gives a true and fair summary of the matters to which it relates. In calculating the Service Costs, the Landlord may include: the Landlord's own reasonable management fee where the Landlord, a Group Company of the Landlord or an employee of either of them undertakes the management of the Services; and interest costs reasonably incurred by the Landlord on borrowing from a UK clearing bank or, if the Landlord uses its own moneys, an amount equal to the interest costs that would have been incurred if the Landlord had borrowed from a UK clearing bank at reasonable commercial rates. Interest costs will be reasonably incurred under this paragraph if: the Landlord has to meet an immediate liability where the service charge funds held by the Landlord are insufficient for that purpose and the shortfall does not result from: any caps on the amount of service charge recoverable; any non-payment of service charges by other tenants of Lettable Units; or any Lettable Unit being unlet; or the Landlord decides to incur service charge expenditure in one Accounting Period and recover that expenditure over two or more Accounting Periods. Service Costs incurred in one Accounting Period, if not included in the Service Charge Statement for that Accounting Period for any reason, may be included in the Service Charge Statement for a subsequent Accounting Period. The Tenant will be entitled on prior appointment to inspect evidence of the Service Costs at the Landlord's head office or any other location the Landlord specifies. The Tenant must ask to inspect the evidence not later than four months after receipt of the Service Charge Statement. Until the Service Charge for each Accounting Period has been calculated, the Tenant must pay, by equal [monthly] [quarterly] payments on the Rent Days, a provisional sum by way of Service Charge at the level that the Landlord requires. The Tenant must also pay on dem...
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Service Charge Statements. After the end of each accounting period, the Landlord will supply the Tenant with a statement (the "Service Charge Statement") for that accounting period of the: Service Costs; and Service Charge payable.86 The Landlord must take reasonable steps to supply the Service Charge Statement within four months after the end of each accounting period. Service Costs incurred in one accounting period, if not included in the Service Charge Statement for that accounting period for any reason, may be included in the Service Charge Statement for a subsequent accounting period. The Tenant will be entitled on prior appointment to inspect evidence of the Service Costs at the Landlord's head office or any other location the Landlord specifies. The Tenant must ask to inspect the evidence not later than four months after receipt of the Service Charge Statement. Until the Service Charge for each accounting period has been calculated, the Tenant must pay, by equal [monthly] [quarterly] payments on the Rent Days, a provisional sum by way of Service Charge at the level that the Landlord requires. The Tenant must also pay on demand any sum or sums that the Landlord requires where the Landlord will be obliged to incur any Service Costs and the sums held on account by the Landlord are insufficient to meet those costs. When the Service Charge for each accounting period has been calculated: the Tenant must pay any amount due from it on demand; and87 the Landlord must credit any amount due to the Tenant against the next payment or payments to be made by the Tenant under paragraph 1.3. Any amount owing at the End Date must be repaid to the Tenant within one month of its calculation. The End Date will not affect the Tenant's obligation to pay or the Landlord's right to recover Service Charge after the End Date where this has not been calculated and demanded before the End Date.
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Service Charge Statements. After the end of each accounting period, the Landlord will supply the Tenant with a statement (the
Sample 1
Service Charge Statements. (a) The Landlord will as soon as may be practicable after the end of each service charge period submit to the Tenant a statement duly certified by the Landlord giving a proper summary of the actual Service Charge for the service charge period just ended. (b) If the Service Charge as certified is more or less than the total of the advance payments, then any sum due to or payable by the Landlord by way of adjustment in respect of the Service Charge is to be paid or allowed immediately, as the case may be.
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Service Charge Statements. 2.1 After the end of each Accounting Period, the Landlord will supply the Tenant with a statement (the “Service Charge Statement”) for that Accounting Period of the: 2.1.1 Service Costs; and 2.1.2 Service Charge payable. 2.2 The Landlord must take reasonable steps to supply the Service Charge Statement within four months after the end of each Accounting Period. 2.3 Service Costs incurred in one Accounting Period, if not included in the Service Charge Statement for that Accounting Period for any reason, may be included in the Service Charge Statement for a subsequent Accounting Period. 2.4 The Tenant will be entitled upon prior appointment to inspect evidence of the Service Costs at the Landlord’s head office or any other location the Landlord specifies. The Tenant must ask to inspect the evidence not later than four months after receipt of the Service Charge Statement.
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Service Charge Statements. 2.1 After the end of each Accounting Period, the Landlord will supply the Tenant with a statement (the “Service Charge Statement”) for that Accounting Period of the: 2.1.1 the Service Costs; and 2.1.2 the Service Charge payable.105 2.2 The Landlord must take reasonable steps to supply the Service Charge Statement within four months after the end of each Accounting Period.
Sample 1
Service Charge Statements. 2.1 After the end of each Accounting Period, the Landlord will supply the Tenant with a statement (the “Service Charge Statement”) for that Accounting Period of: 2.1.1 the Service Costs; and 2.1.2 the Service Charge payable.105 2.2 The Landlord must take reasonable steps to supply the Service Charge Statement within four months after the end of each Accounting Period. 2.3 The Service Charge Statement must include a certificate signed by the Landlord or the Landlord’s managing agent, accountant or surveyor (who may be an employee of either the Landlord or a Group Company of the Landlord) certifying that it gives a true and fair summary of the matters to which it relates. 2.4 In calculating the Service Costs, the Landlord may include: 2.4.1 the Landlord’s own reasonable management fee where the Landlord, a Group Company of the Landlord or an employee of either of them undertakes the management of the Services; and 2.4.2 interest costs reasonably incurred by the Landlord on borrowing from a UK clearing bank or, if the Landlord uses its own moneys, an amount equal to the interest costs that would have been incurred if the Landlord had borrowed from a UK clearing bank at reasonable commercial rates. Interest costs will be reasonably incurred under this paragraph if: (a) the Landlord has to meet an immediate liability where the service charge funds held by the Landlord are insufficient for that purpose and the shortfall does not result from: (i) any caps on the amount of service charge recoverable; (ii) any non-payment of service charges by other tenants of Lettable Units; or The administrative provisions have deliberately been kept brief because much is covered by the Landlord’s obligations in Part 2 to take into consideration the administrative, accounting, procurement, management and operational provisions of the Service Charge Code. There is deliberately no provision for a reserve or sinking fund. If the Landlord has agreed to cap the amount of service charge payable by the Tenant, please refer to the Model Commercial Lease: Index Linked Service Charge Cap clause (MCL-LEASECLAUSE-05). (iii) any Lettable Unit being unlet; or (b) the Landlord decides to incur service charge expenditure in one Accounting Period and recover that expenditure over two or more Accounting Periods. 2.5 Service Costs incurred in one Accounting Period, if not included in the Service Charge Statement for that Accounting Period for any reason, may be included in the Service Charge Statem...
Sample 1
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Related to Service Charge Statements

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