Common use of Statement of Actual Direct Expenses and Payment by Tenant Clause in Contracts

Statement of Actual Direct Expenses and Payment by Tenant. Landlord shall cause Master Landlord to give to Tenant within approximately one hundred fifty (150) days after the end of the Base Year and each subsequent Expense Year, a reasonably detailed statement (the “Statement”), which shall state the Direct Expenses incurred or accrued for the Base Year or such preceding Expense Year, as applicable, and which shall indicate the amount of the Excess. Landlord shall be deemed to have complied with the preceding sentence if Landlord delivers to Tenant within such period the Statement of Direct Expenses that Landlord receives from Master Landlord for the Base Year and such Expense Year under the Master Lease (it being understood that Tenant shall not be required to pay more under Article 4 of this Lease than the amount then payable by Landlord, as tenant, under Article 4 of the Master Lease to Master Landlord). Upon receipt of the Statement for each Expense Year commencing or ending during the Lease Term, if an Excess is present, Tenant shall pay, within thirty (30) days after receipt of the Statement, the full amount of the Excess for such Expense Year, less the amounts, if any, paid during such Expense Year as “Estimated Excess,” as that term is defined below.

Statement of Actual Direct Expenses and Payment by Tenant. Landlord shall cause Master Landlord to give to Tenant within approximately one hundred fifty six (1506) days after months following the end of the Base Year and each subsequent Expense Year, a reasonably detailed statement (the “Statement”), ) which shall state the Direct Expenses incurred or accrued for the Base Year or such preceding Expense Year, as applicable, and which shall shall, with respect to each Expense Year following the Base Year, indicate the amount of the Excess. Landlord shall be deemed to have complied with the preceding sentence if Landlord delivers to Tenant within such period the Statement of Direct Expenses that Landlord receives from Master Landlord for the Base Year and such Expense Year under the Master Lease (it being understood that Tenant shall not be required to pay more under Article 4 of this Lease than the amount then payable by Landlord, as tenant, under Article 4 of the Master Lease to Master Landlord). Upon receipt of the Statement for each Expense Year commencing or ending during the Lease TermYear, if an Excess is present, Tenant shall pay, with its next installment of Base Rent due or within thirty (30) days after receipt of the Statementdays, whichever is later, the full amount of the Excess for such Expense Year, less the amounts, if any, paid during such Expense Year as “Estimated Excess,” as that term is defined in Section 4.4.2, below. The failure of Landlord to timely furnish the Statement for any Expense Year shall not prejudice Landlord or Tenant from enforcing its rights under this Article 4. Even though the Lease Term has expired, and Tenant has vacated the Premises, when the final determination is made of Tenant’s Share of Direct Expenses for the Expense Year in which this Lease terminates, if an Excess if present, Tenant shall immediately pay to Landlord such amount. The provisions of this Section 4.4.1 shall survive the expiration or earlier termination of the Lease Term.

Statement of Actual Direct Expenses and Payment by Tenant. Landlord shall cause Master Landlord to give to Tenant within approximately one hundred fifty (150) 180 days after following the end of the Base Year and each subsequent Expense Year, a reasonably detailed statement (the “Statement”), "STATEMENT") which shall state the Direct Expenses incurred or accrued for the Base Year or such preceding Expense Year, as applicable, and which shall indicate the amount of the Excess. Landlord Each Statement shall be deemed itemized with reasonable detail as to have complied with the preceding sentence if Landlord delivers to Tenant within such period the Statement of Direct Expenses that Landlord receives from Master Landlord for the Base Year general categories and such Expense Year under the Master Lease (it being understood that Tenant shall not be required to pay more under Article 4 of this Lease than specifically note the amount then payable by Landlord, as tenant, under Article 4 of the Master Lease to Master Landlord)each such category. Upon receipt of the Statement for each Expense Year commencing or ending during the Lease Term, if an Excess is present, Tenant shall pay, with its next installment of Base Rent due or within thirty (30) days after following Tenant's receipt of the Statement, whichever is later, the full amount of the Excess for such Expense Year, less the amounts, if any, paid during such Expense Year as “"Estimated Excess,” " as that term is defined in Section 4.4.2, below. If the amount of the Excess is less than the amount paid by Tenant as Estimated Excess during the applicable Expense Year, Tenant shall receive a credit for such overpayment against the Rent next due under this Lease, provided that if the Lease Term has expired, Landlord shall pay the amount of Tenant's overpayment to Tenant. The failure of Landlord to timely furnish the Statement for any Expense Year shall not prejudice Landlord or Tenant from enforcing its rights under this ARTICLE 4.