Common use of Statement of Estimated Expenses Clause in Contracts

Statement of Estimated Expenses. In addition, Landlord shall endeavor to give Tenant a yearly expense estimate statement (the "ESTIMATE STATEMENT") which shall set forth Landlord's reasonable estimate (the "ESTIMATE") of what the total amount of Direct Expenses allocated to the Building pursuant to Section 4.3.4 below for the then-current Expense Year shall be (the "ESTIMATED EXPENSES"). The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Expenses under this Article 4. Tenant shall pay to Landlord, within thirty (30) days after its receipt of the Estimate Statement, Tenant's Share of a fraction of the Estimated Expenses for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this Section 4.3.3). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Notwithstanding the foregoing, if Landlord delivers the Estimate Statement for an Expense Year (which is other than the last Expense Year) later than ninety (90) days after the commencement of such Expense Year, and the increase in the amount of the Estimated Expenses set forth thereon as compared to the Estimated Expenses set forth on the previous Estimate Statement exceeds $25,000.00, then in lieu of making such lump sum payment of such increased amount as provided in the immediately preceding two (2) sentences, Tenant may, at Tenant's option, pay such amount to Landlord over the next six (6) months in equal monthly installments of one-sixth (1/6th) of such amount, together with Tenant's payment of the monthly Base Rent. Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of Tenant's Share of the total Estimated Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant. Upon request of Tenant, Landlord shall provide to Tenant a detailed written analysis setting forth the bases for Landlord's determination of Estimated Expenses in any Estimate Statement.

Statement of Estimated Expenses. In addition, Landlord shall endeavor to give Tenant a yearly expense estimate statement (the "ESTIMATE STATEMENT"“Estimate Statement”) which shall set forth Landlord's ’s reasonable estimate (the "ESTIMATE"“Estimate”) of what the total amount of Direct Operating Expenses allocated to the Building pursuant to Section 4.3.4 below and Tax Expenses for the then-current Expense Year shall be and the estimated Excess (the "ESTIMATED EXPENSES")“Estimated Excess”) as calculated by comparing Tenant’s Share of Operating Expenses and Tax Expenses, which shall be based upon the Estimate, to Tenant’s Share of Operating Expenses and Tax Expenses for the Base Year. The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Expenses Excess under this Article 4. If pursuant to the Estimate Statement an Estimated Excess is calculated for the then-current Expense Year, Tenant shall pay to Landlordpay, within thirty (30) days after with its receipt next installment of the Estimate StatementBase Rent due, Tenant's Share of a fraction of the Estimated Expenses Excess for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this Section 4.3.3). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Notwithstanding the foregoing, if Landlord delivers the Estimate Statement for an Expense Year (which is other than the last Expense Year) later than ninety (90) days after the commencement of such Expense Year, and the increase in the amount of the Estimated Expenses set forth thereon as compared to the Estimated Expenses set forth on the previous Estimate Statement exceeds $25,000.00, then in lieu of making such lump sum payment of such increased amount as provided in the immediately preceding two (2) sentences, Tenant may, at Tenant's option, pay such amount to Landlord over the next six (6) months in equal monthly installments of one-sixth (1/6th) of such amount, together with Tenant's payment of the monthly Base Rent. Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of Tenant's Share of the total Estimated Expenses Excess set forth in the previous Estimate Statement delivered by Landlord to Tenant. Upon request of Tenant, Landlord shall provide to Tenant a detailed written analysis setting forth the bases for Landlord's determination of Estimated Expenses in any Estimate Statement.

Statement of Estimated Expenses. In additionPrior to each Expense Year, Landlord shall endeavor to give Tenant a yearly expense estimate statement (the "ESTIMATE STATEMENTEstimate Statement") which shall set forth Landlord's reasonable estimate (the "ESTIMATEEstimate") of what the total amount of Direct Operating Expenses and Tax Expenses allocated to the Building (pursuant to Section 4.3.4 below below) for the then-current Expense Year shall be and the estimated Excess (the "ESTIMATED EXPENSESEstimated Excess")) as calculated by comparing (i) Tenant's Share of Operating Expenses allocated to the Building (pursuant to Section 4.3.4 below) for such then-current Expense Year, which shall be based upon the Estimate, to Tenant's Share of Operating Expenses allocated to the Building for the Base Year, and (ii) Tenant's Share of Tax Expenses allocated to the Building (pursuant to Section 4.3.4 below) for such then-current Expense Year, which shall be based upon the Estimate, to Tenant's Share of Tax Expenses allocated to the Building for the Base Year, which Estimate Statement may be revised and reissued by Landlord from time to time; provided, however, to the extent Landlord fails to deliver an Estimate Statement for such then-current Expense Year, Tenant shall pay the Estimated Excess for such then-current Expense Year in accordance with the previous Estimate Statement (if any) given by Landlord for the previous Expense Year. The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Expenses Excess under this Article 4. If pursuant to the Estimate Statement (or a revision thereof) an Estimated Excess is calculated for the then-current Expense Year, Tenant shall pay to Landlordpay, within with its next installment of Base Rent due, but in no event later than thirty (30) days after its receipt of the such Estimate Statement, Tenant's Share of a fraction of the Estimated Expenses Excess (or the increase in the Estimated Excess if pursuant to a revised Estimate Statement) for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this Section 4.3.3). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Notwithstanding the foregoing, if Landlord delivers the Estimate Statement for an Expense Year (which is other than the last Expense Year) later than ninety (90) days after the commencement of such Expense Year, and the increase in the amount of the Estimated Expenses set forth thereon as compared to the Estimated Expenses set forth on the previous Estimate Statement exceeds $25,000.00, then in lieu of making such lump sum payment of such increased amount as provided in the immediately preceding two (2) sentences, Tenant may, at Tenant's option, pay such amount to Landlord over the next six (6) months in equal monthly installments of one-sixth (1/6th) of such amount, together with Tenant's payment of the monthly Base Rent. Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of Tenant's Share of the total Estimated Expenses Excess set forth in the previous Estimate Statement delivered by Landlord to Tenant. Upon request of Tenant, Landlord shall provide to Tenant a detailed written analysis setting forth the bases for Landlord's determination of Estimated Expenses in any Estimate Statement.

Statement of Estimated Expenses. In addition, Landlord shall endeavor to give Tenant a yearly expense estimate statement (the "ESTIMATE STATEMENTEstimate Statement") which shall set forth Landlord's reasonable estimate (the "ESTIMATEEstimate") of what the total amount of Direct Operating Expenses, Insurance Expenses, Utility Expenses allocated to the Building pursuant to Section 4.3.4 below and Tax Expenses for the then-current Expense Year shall be and the estimated Excess (the "ESTIMATED EXPENSESEstimated Excess"). The failure of Landlord If pursuant to timely furnish the Estimate Statement an Estimated Excess is calculated for any the then-current Expense Year shall not preclude Landlord from enforcing its rights to collect any Estimated Expenses under this Article 4. Year, Tenant shall pay to Landlordpay, within thirty (30) days after with its receipt next installment of the Estimate StatementBase Rent due, Tenant's Share of a fraction of the Estimated Expenses Excess for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this Section 4.3.3). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Notwithstanding the foregoingdenominator (for example, if Landlord delivers issues an Estimate Statement in April, Tenant will pay 4/12 of the Estimated Excess as the initial payment of Estimated Excess which is owed by Tenant pursuant to such Estimate Statement for an Expense Year (which is other than the last applicable Expense Year) later than ninety (90) days after the commencement of such Expense Year, and the increase in the amount of the Estimated Expenses set forth thereon as compared to the Estimated Expenses set forth on the previous Estimate Statement exceeds $25,000.00, then in lieu of making such lump sum payment of such increased amount as provided in the immediately preceding two (2) sentences, Tenant may, at Tenant's option, pay such amount to Landlord over the next six (6) months in equal monthly installments of one-sixth (1/6th) of such amount, together with Tenant's payment of the monthly Base Rent). Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of Tenant's Share of the total Estimated Expenses Excess set forth in the previous Estimate Statement delivered by Landlord to Tenant. Upon request of TenantIf the Estimated Excess paid by Tenant is greater than the actual Excess for an Expense Year, Landlord then the difference shall provide be credited against future expenses charged to Tenant a detailed written analysis setting forth or refunded to Tenant if the bases for Landlord's determination of Estimated Expenses in any Estimate StatementLease has expired.

Statement of Estimated Expenses. In addition, Landlord shall endeavor ------------------------------- to give Tenant a yearly expense estimate statement (the "ESTIMATE STATEMENTEstimate Statement") which shall set forth Landlord's reasonable estimate ("the "ESTIMATEEstimate") of what Tenant's Share of the total amount of the Direct Expenses allocated to tenants of the Building pursuant to the terms of Section 4.3.4 below 4.2 above for the then-current Expense Year shall be (the "ESTIMATED EXPENSESEstimated Direct Expenses"). Such Estimate may be revised by Landlord whenever it obtains information relevant to making such Estimate more accurate. The failure of Landlord to timely furnish the Estimate Statement for any Expense Year shall not be deemed a default by Landlord nor shall it preclude Landlord from enforcing its rights to collect any Estimated Direct Expenses under this Article Section 4. Tenant shall pay to Landlord, within thirty (30) days after its receipt at the time and place and in the manner that payments of Monthly Base Rent are due hereunder, one-twelfth of the Estimate Statement, of Tenant's Share of a fraction Direct Expenses. In addition, if pursuant to the Estimate Statement an estimated Excess is calculated for the then current Expense Year, Tenant shall pay, with its next installment of the Estimated Expenses Monthly Base Rent due, the amount of such estimated Excess for the then-current Expense Year (reduced by any amounts paid pursuant to the second to last sentence of this Section 4.3.3). Such fraction shall have as its numerator the number of months which have elapsed in such current Expense Year to the month of such payment, both months inclusive, and shall have twelve (12) as its denominator. Notwithstanding the foregoing, if Landlord delivers the Estimate Statement for an Expense Year (which is other than the last Expense Year) later than ninety (90) days after the commencement of such Expense Year, and the increase in the amount of the Estimated Expenses set forth thereon as compared to the Estimated Expenses set forth on the previous Estimate Statement exceeds $25,000.00, then in lieu of making such lump sum payment of such increased amount as provided in the immediately preceding two (2) sentences, Tenant may, at Tenant's option, pay such amount to Landlord over the next six (6) months in equal monthly installments of one-sixth (1/6th) of such amount, together with Tenant's payment of the monthly Base Rent. Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Monthly Base Rent installments, an amount equal to one-twelfth (1/12) of Tenant's Share 1/12th of the total Estimated Direct Expenses set forth in the previous Estimate Statement delivered by Landlord to Tenant. Upon request of Tenant, Landlord shall provide to Tenant a detailed written analysis setting forth the bases for Landlord's determination of Estimated Expenses in any Estimate Statement.