Common use of Statement of Expenses Clause in Contracts

Statement of Expenses. Landlord shall, after December 31 of each year, using its good faith commercially reasonable efforts to do so by April 30, but no later than December 31 following such April 30 date, furnish to Tenant a “Final Statement,” it being agreed that if the Final Statement is not delivered to Tenant until after April 30 of the applicable year and the Final Statement shows that Tenant overpaid its allocable share of actual Taxes, Assessments and Operating Expenses, Tenant shall be entitled to interest on such overpayment at the Interest Rate from and after April 30 until the date Landlord delivers such Final Statement. The Final Statement shall contain a computation of the charge or credit to Tenant for any difference between (a) Tenant’s proportionate share of the actual Taxes, Assessments, and Operating Expenses and (b) the estimated portion(s) thereof paid by Tenant for the preceding calendar year, and the amount of any underpayment shall be paid by Tenant within thirty (30) days after delivery of said notice. The Final Statement shall contain a line item detail setting forth by categories the actual Operating Expenses incurred by Landlord for the previous year. In the event of overpayment by Tenant, Landlord shall credit such overpayment in full against Tenant’s payment of Rent next coming due hereunder; provided, however, that to the extent that the overpayment exceeds Tenant’s payment of Rent next coming due hereunder, Landlord shall refund such excess within thirty (30) days of the date Landlord provides Tenant with notice of same. Upon expiration or sooner termination of this Lease, if Tenant was not in material default hereunder immediately prior thereto, Landlord shall refund to Tenant any overpayment within thirty (30) days after Landlord’s computation of the same. In the event Landlord shall not have delivered the Final Statement until after said December 31 date, Landlord shall have waived its right to collect from Tenant any underpayment for the applicable year; provided that such waiver shall not apply to third-party invoices (such as an adjusted tax statement) which has not been received by Landlord by November 1 of the year of delivery of the Final Statement, in which event Landlord shall have sixty (60) days from receipt of such third-party invoice to deliver to Tenant an adjusted Final Statement with appropriate credit or payment obligation in favor of or by Tenant.

Statement of Expenses. Landlord shall, after December 31 Prior to the commencement of the Term and of each calendar year thereafter, Landlord shall give Tenant a written estimate of the amount of Operating Expenses for the applicable year, using its good faith commercially reasonable efforts to do so as well as Tenant's share thereof, which amount shall be payable by April 30, but no later than December 31 following such April 30 date, furnish to Tenant a “Final Statement,” it being agreed as Additional Rent for the ensuing year or portion thereof. During the calendar year that if is the Final Statement is not delivered to Tenant until after April 30 subject of the applicable year and the Final Statement shows that Tenant overpaid its allocable share Landlord's statement of actual Taxes, Assessments and estimated Operating Expenses, Tenant shall be entitled pay such estimated amount to interest Landlord in twelve (12) equal monthly installments, in advance, on such overpayment at the Interest Rate from and first (1st) day of each calendar month. Within one hundred twenty (120) days after April 30 until the date end of each calendar year or as soon thereafter as reasonably possible, Landlord delivers such Final Statement. The Final Statement shall contain a computation of the charge or credit furnish to Tenant for any difference between (a) Tenant’s proportionate share of a statement showing in reasonable detail the actual TaxesBuilding Operating Expenses, Assessments, and Phase Operating Expenses and (b) the estimated portion(s) Project Operating Expenses incurred by Landlord for such period and Tenant's proportionate share thereof paid by Tenant for the preceding calendar yearin accordance with this Paragraph 3, and the amount of any underpayment Tenant shall be paid by Tenant within thirty (30) days after delivery of said noticethereafter make any payment necessary to adjust its previous actual payments to the amount shown as due from Tenant on such annual statement. The Final Statement shall contain a line item detail setting forth by categories the Any actual Operating Expenses incurred by Landlord for the previous year. In the event of overpayment by Tenant, Landlord Tenant shall credit such overpayment in full be credited against Tenant’s payment installments of Additional Rent next coming due hereunder; provided, however, that from Tenant under this Paragraph 3. Nothing contained in this Paragraph 3(e) shall be construed to limit the extent that the overpayment exceeds Tenant’s payment right of Rent next coming due hereunder, Landlord shall refund such excess within thirty (30) days from time to time during any calendar year to revise its estimates of the date Landlord provides Tenant with notice of same. Upon expiration or sooner termination Operating Expenses which are the subject of this Lease, if Tenant was not Paragraph and to reflect such revision by prospective adjustments in material default hereunder immediately prior thereto, Landlord shall refund xxxxxxxx to Tenant for Tenant's monthly installments payable under this Paragraph over the remainder of such year. Tenant's share of such Operating Expenses for any overpayment within thirty (30) days after Landlord’s computation partial year during the Term shall be that proportion of the same. In the event Landlord shall not have delivered the Final Statement until after said December 31 dateTenant's Building Share of Building Operating Expenses, Landlord shall have waived its right to collect from Tenant any underpayment Tenant's Phase Share of Phase Operating Expenses and Tenant's Project Share of Project Operating Expenses for the applicable year; provided that full year which is the same proportion as the number of days in such waiver shall not apply partial year is to thirdthree hundred sixty-party invoices five (such as an adjusted tax statement) which has not been received by Landlord by November 1 of the year of delivery of the Final Statement, in which event Landlord shall have sixty (60) days from receipt of such third-party invoice to deliver to Tenant an adjusted Final Statement with appropriate credit or payment obligation in favor of or by Tenant365).

Statement of Expenses. Landlord shall, after December 31 Prior to the commencement of the Term and --------------------- of each calendar year thereafter, Landlord shall give Tenant a written estimate of the amount of Operating Expenses for the applicable year, using its good faith commercially reasonable efforts to do so as well as Tenant's share thereof, which amount shall be payable by April 30, but no later than December 31 following such April 30 date, furnish to Tenant a “Final Statement,” it being agreed as Additional Rent for the ensuing year or portion thereof. During the calendar year that if is the Final Statement is not delivered to Tenant until after April 30 subject of the applicable year and the Final Statement shows that Tenant overpaid its allocable share Landlord's statement of actual Taxes, Assessments and estimated Operating Expenses, Tenant shall be entitled pay such estimated amount to interest Landlord in twelve (12) equal monthly installments, in advance, on such overpayment at the Interest Rate from and first (1st) day of each calendar month. Within one hundred twenty (120) days after April 30 until the date end of each calendar year or as soon thereafter as reasonably possible, Landlord delivers such Final Statement. The Final Statement shall contain a computation of the charge or credit furnish to Tenant for any difference between a statement (athe "Statement") Tenant’s proportionate share of showing in reasonable detail the actual TaxesBuilding Operating Expenses, Assessments, and Phase Operating Expenses and (b) the estimated portion(s) Project Operating Expenses incurred by Landlord for such period and Tenant's proportionate share thereof paid by Tenant for the preceding calendar yearin accordance with this Paragraph 3, and the amount of any underpayment Tenant shall be paid by Tenant within thirty (30) days after delivery of said noticethereafter make any payment necessary to adjust its previous actual payments to the amount shown as due from Tenant on such annual statement. The Final Statement shall contain a line item detail setting forth by categories the Any actual Operating Expenses incurred by Landlord for the previous year. In the event of overpayment by Tenant, Landlord Tenant shall credit such overpayment in full be credited against Tenant’s payment installments of Additional Rent next coming due hereunder; provided, however, that from Tenant under this Paragraph 3. Nothing contained in this Paragraph 3(e) shall be construed to limit the extent that the overpayment exceeds Tenant’s payment right of Rent next coming due hereunder, Landlord shall refund such excess within thirty (30) days from time to time during any calendar year to revise its estimates of the date Landlord provides Tenant with notice of same. Upon expiration or sooner termination Operating Expenses which are the subject of this Lease, if Tenant was not Paragraph and to reflect such revision by prospective adjustments in material default hereunder immediately prior thereto, Landlord shall refund xxxxxxxx to Tenant for Tenant's monthly installments payable under this Paragraph over the remainder of such year. Tenant's share of such Operating Expenses for any overpayment within thirty (30) days after Landlord’s computation partial year during the Term shall be that proportion of the same. In the event Landlord shall not have delivered the Final Statement until after said December 31 dateTenant's Building Share of Building Operating Expenses, Landlord shall have waived its right to collect from Tenant any underpayment Tenant's Phase Share of Phase Operating Expenses and Tenant's Project Share of Project Operating Expenses for the applicable year; provided that full year which is the same proportion as the number of days in such waiver shall not apply partial year is to thirdthree hundred sixty-party invoices five (such as an adjusted tax statement) which has not been received by Landlord by November 1 of the year of delivery of the Final Statement, in which event Landlord shall have sixty (60) days from receipt of such third-party invoice to deliver to Tenant an adjusted Final Statement with appropriate credit or payment obligation in favor of or by Tenant365).