STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end of each calendar year or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following:
(a) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses for such period and Tenant’s Share of each as described in Section 4.01 above;
(b) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and
(c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Year, including the amount or revised amount due for months preceding any such change pursuant to Landlord’s Statement. Tenant shall pay to Landlord within ten (10) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s Statement. Any amounts due from Landlord to Tenant pursuant to this Section shall be credited to the Rent Adjustment Deposit next coming due, or refunded to Tenant if the Term has already expired provided Tenant is not in default hereunder. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit or refund to Tenant by reason of this Section 4.03. Landlord’s failure to deliver Landlord’s Statement or to compute the amount of the Rent Adjustments shall not constitute a waiver by Landlord of its right to deliver such items nor constitute a waiver or release of Tenant’s obligations to pay such amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Year. During the last complete calendar year or during any partial calendar year in which the Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may not be finally determined until after the termination of this Lease. Tenant’s obligation to pay Rent Adjustments survives the expiration or termination of the Lease. Notwithstanding the foregoing, in no event shall the sum of Monthly Base Rent and the Rent Adjustments be less than the Monthly Base Rent payable.
STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end of each calendar year or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement ("Landlord's Statement") showing the following:
(a) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses for such period and Tenant's Share of each as described in Section 4.01 above;
(b) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and
(c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Year, including the amount or revised amount due for months preceding any such change pursuant to Landlord's Statement.
STATEMENT OF LANDLORD. As soon as feasible after the expiration of each calendar year, Landlord will furnish Tenant a statement ("Landlord's Statement") showing the following:
(1) Operating Expenses and Taxes for the calendar year;
(2) The amount of Rent Adjustments due Landlord for the last calendar year, less credit for Rent Adjustment Deposits paid, if any; and
(3) Any change in the Rent Adjustment Deposit due monthly in the current calendar year, including the amount or revised amount due for months preceding any such change pursuant to Landlord's Statement.
STATEMENT OF LANDLORD. As soon as feasible after the expiration of the Operating Expenses Base Year and the Taxes Base Year, and each Adjustment Year thereafter, Landlord will furnish Tenant a statement ("Landlord's Statement") showing the following:
(i) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year and thereafter for the last Adjustment Year;
(ii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and
(iii) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Year, including the amount or revised amount due for months preceding any such change pursuant to Landlord's Statement.
STATEMENT OF LANDLORD. The following shall be added at the end of Section 4.2: “Notwithstanding anything to the contrary contained in this Lease, if Landlord has not delivered a Statement for any calendar year during the Term (including the calendar year in which the Lease terminates) by the date that is twelve (12) months after the end of the calendar year in question, Tenant shall not be obligated to pay Tenant’s Share of Operating Expenses or Taxes in excess of the estimated Operating Expenses and Taxes paid by Tenant as Rent Adjustment Deposits for such calendar year. Landlord shall be able to adjust a Statement after said 12-month period only to the extent of valid costs and expenses which Landlord had no knowledge of earlier.”
STATEMENT OF LANDLORD. As soon as feasible after the expiration of each calendar year of this Lease, Landlord will furnish Tenant a statement showing the following:
(i) Operating Expenses and Taxes for the Adjustment Year;
(ii) The amount of Rent Adjustments due Landlord for the Adjustment Year, less credit for Rent Adjustment Deposits paid, if any (this will be a lump sum due Landlord or a credit to Tenant which will be applied to future Rent Adjustments); and
(iii) The Rent Adjustment Deposit due in the calendar year next following the Adjustment Year including the amount or revised amount due for months prior to the rendition of the statement. Tenant shall pay to Landlord the amounts due in accordance with said statement. Monthly Base Rent shall be paid as provided in Article 3, the lump sum Rent Adjustment shall be paid within ten (10) days after receipt of such statement, and Rent Adjustment Deposits shall be paid as provided in Section 22.03. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit to Tenant by reason of Section 22.03 or this Section 22.04. Notwithstanding the foregoing, in no event shall the Monthly Base Rent and the Rent Adjustments be less than the Monthly Base Rent.
STATEMENT OF LANDLORD. As soon as feasible, but in no event later than 90 days after the end of such calendar year, after the expiration of the first Calendar Year of this Lease and each Calendar Year thereafter, Landlord will furnish Tenant a statement showing the following:
(i) Operating Expenses and Taxes for such Calendar Year;
(ii) The amount of the Rent Adjustments due Landlord for such Calendar Year, less credit for Rent Adjustment Deposits paid, if any;
(iii) The Rent Adjustment Deposits due in the current Calendar Year including the amount or revised amount due for months prior to the rendition of the statements; and,
(iv) The Current CPI and the CPI Escalation Amount due in the current Calendar Year and payable pursuant to Section 3.04 of this Lease.
STATEMENT OF LANDLORD. As soon as feasible after the expiration of each calendar year of this Lease, Landlord will furnish Tenant a statement ("Landlords Statement") showing the following:
(i) Operating Expenses; and Tam for the Adjustment Year,
(ii) The amount of Rent Adjustments due Landlord for the Adjustment Year, less credit for Rent Adjustment Deposits paid, if any, mid
(iii) The Rent Adjustment Deposit due monthly in the calendar year next following the Adjustment Year including the amount or revised amount due for months prior to the rendition of the statement.
STATEMENT OF LANDLORD. Within a reasonable period of time following the end of the calendar year in which the Lease Term expires, Landlord shall deliver to Tenant a statement setting forth (i) Tenant's Share of the actual Operating Expenses incurred during the final calendar year of the Lease Term, up to and including the expiration date of the Lease Term, and (ii) any underpayment or overpayment of Tenant's Share of the projected Excess Expenses made during that final calendar year. In the event of any underpayment, Tenant shall promptly pay the full amount thereof to Landlord. If Tenant has overpaid, Landlord shall promptly reimburse Tenant the full amount of such overpayment. The respective obligations of the parties hereto pursuant to this Article 4.01 shall survive the termination of this Lease.
STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end of each calendar year or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement ("Landlord's Statement") showing the following:
(a) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses for such period and Tenant’s Share of each as described in Section 4.01 above;
(b) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and
(c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Year, including the amount or revised amount due for months preceding any such change pursuant to Landlord's Statement. Tenant shall pay to Landlord within ten (10) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord's Statement. Any amounts due from Landlord to Tenant pursuant to this Section shall be credited to the Rent Adjustment Deposit next coming due, or refunded to Tenant if the Term has already expired provided Tenant is not in default hereunder. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit or refund to Tenant by reason of this Section
