Common use of STATEMENT OF LANDLORD Clause in Contracts

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.

Appears in 6 contracts

Samples: Lease Agreement (Exact Sciences Corp), Lease Agreement (Genomic Health Inc), Lease (Genomic Health Inc)

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STATEMENT OF LANDLORD. Within one hundred twenty (120) Landlord shall use commercially reasonably efforts to furnish to Tenant, within 120 days after following the end expiration of each calendar year or (but in any event as soon thereafter as reasonably possiblefeasible after the expiration of each calendar year), 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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 thirty (1030) 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 within thirty (30) days after such determination if the Term has already expired expired, provided Tenant is not in default hereunderhereunder beyond any applicable notice and cure period. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year (or partial calendar 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 good faith estimate of Rent Adjustments which may not be finally determined until after the termination of this Lease. Landlord’s and Tenant’s obligation to pay respecting Rent Adjustments survives shall survive the expiration or termination of the this 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.

Appears in 3 contracts

Samples: Lease Agreement (XOMA Corp), Office Lease (XOMA Corp), Lease Agreement (XOMA Corp)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 thirty (1030) 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 expired, provided Tenant Xxxxxx is not in default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordXxxxxxxx’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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might 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 this 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 payablepayable under this Lease.

Appears in 2 contracts

Samples: Office/Laboratory Lease (Kyverna Therapeutics, Inc.), Office/Laboratory Lease (Kyverna Therapeutics, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes for the last Adjustment Year showing in reasonable detail previous calendar year and for 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 aboveBase Year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less after credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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 (and Landlord’s obligation to refund any overpayment) survive 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, and if Landlord’s liability for refund exceeds the Rent Adjustments payable for one month, any excess shall carry over into the following month.

Appears in 2 contracts

Samples: Lease (Lucira Health, Inc.), Lease (Lucira Health, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“Landlord’s Statement”) showing the following: (a) Operating Expenses for the last Adjustment Year showing in reasonable detail the The amount of actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 corning due, or promptly refunded to Tenant if the Term has already expired or terminated, provided Tenant is not in default Default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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, unless Landlord fails to deliver such Landlord’s Statement as to Operating Expenses or Taxes (unless such delivery delay as to Taxes is due to a delay in the taxing authority providing updated Tax information) within twenty-four (24) months following the conclusion of the applicable calendar year. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease expires or terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might not be finally determined until after the expiration or termination of this Lease. Tenant’s obligation to pay Rent Adjustments survives the expiration or termination of the this 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.

Appears in 2 contracts

Samples: Office/Laboratory Lease (Caribou Biosciences, Inc.), Office/Laboratory Lease (Caribou Biosciences, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes 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 abovecalendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Lease Year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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.

Appears in 2 contracts

Samples: Lease Agreement, Lease (Gritstone Oncology, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end On or before April 1 of each calendar year (or as soon thereafter as reasonably possiblepractical), Landlord will furnish to Tenant a statement (“Landlord’s Statement”) respecting the prior calendar year 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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 thirty (1030) days after receipt of such statement each Landlord’s Statement any amounts for Rent Adjustments then due in accordance with such 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, due or refunded to Tenant if the Term has already expired expired, provided Tenant is not in default Default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year (or partial calendar year). During the last complete calendar year (or partial calendar year) or during any partial calendar year in which the this 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 and Landlord’s obligation to refund any Rent Adjustment Deposit to Tenant shall survive the expiration or termination of the this 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.

Appears in 2 contracts

Samples: Sublease (Dynavax Technologies Corp), Office/Laboratory Lease (Dynavax Technologies Corp)

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 twenty (1020) 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, provided Landlord’s Statement is delivered within three (3) years after the end of the Adjustment Year to which the Landlord’s Statement applies. 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, and Landlord shall provide Tenant with a final Landlord’s Statement within sixty (60) days after the expiration or earlier termination of the 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.

Appears in 2 contracts

Samples: Lease Agreement (Guardant Health, Inc.), Lease Agreement (Guardant Health, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end expiration of the Base Year and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Base Operating Expenses and thereafter 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 thirty (1030) 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 as a result of an overpayment by Tenant of any Rent Adjustment, as determined pursuant to this Section 4.02 shall be credited to the Rent Adjustment Deposit next coming due, or refunded to Tenant within thirty (30) days after delivery of Landlord’s Statement if the Term has already expired provided Tenant is not in default 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 4.034.02. 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 or constitute a waiver or release of Tenant’s obligations to pay such amountsamounts unless Landlord shall fail to deliver Landlord’s Statement within twelve (12) months after the end of the applicable Base Year or Adjustment Year (the foregoing shall not, however, be construed as prohibiting Landlord from recalculating in future years the amount that should have been owed, sending Tenant a corrected Landlord’s Statement, and charging or crediting Tenant for amounts due or owed thereunder). 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.

Appears in 2 contracts

Samples: Office Lease (Accolade, Inc.), Office Lease (Accolade, Inc.)

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 thirty (1030) 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.

Appears in 2 contracts

Samples: Lease Agreement (Acelrx Pharmaceuticals Inc), Lease Agreement (Acelrx Pharmaceuticals Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end On or before April 1 of each calendar year (or as soon thereafter as reasonably possiblepractical), Landlord will furnish Tenant a statement (“Landlord’s Statement”) respecting the prior calendar year 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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 thirty (1030) 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 shall, at Landlord’s option, either be directly refunded to Tenant by check or otherwise, or 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordXxxxxxxx’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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this 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 this 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.

Appears in 2 contracts

Samples: Sub Sublease (Carmot Therapeutics Inc.), Sub Sublease (Carmot Therapeutics Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes 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 abovecalendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 hereunderexpired. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year (or partial calendar 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.

Appears in 2 contracts

Samples: Lease Agreement (Amyris Biotechnologies Inc), Lease Agreement (Amyris Biotechnologies Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes 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 aboveprevious calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less after credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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 (and Landlord’s obligation to refund any overpayment) survive 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, and if Landlord’s liability for refund exceeds the Rent Adjustments payable for one month, any excess shall carry over into the following month.

Appears in 2 contracts

Samples: Lab Lease (OmniAb, Inc.), Lab Lease (OmniAb, Inc.)

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 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 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 4.034.02. 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.

Appears in 2 contracts

Samples: Lease Agreement (Codexis Inc), Lease Agreement (Codexis Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 expired, provided that Tenant is not in default hereundermonetary Default under this Lease. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might not be finally determined until after the termination of this Lease. Tenant’s obligation to pay Rent Adjustments Adjustments, and Landlord’s obligation to refund any overpayments of Rent Adjustments, survives the expiration or termination of the this 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.

Appears in 1 contract

Samples: Office/Laboratory Lease (Berkeley Lights, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end of each calendar year Adjustment Year within the Term, or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) 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 aboveYear; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (c3) 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 thirty (1030) 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 4.034.02. 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.

Appears in 1 contract

Samples: Lease Agreement (Modular Medical, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end On or before April 1 of each calendar year (or as soon thereafter as reasonably possiblepractical), Landlord will furnish Tenant a statement (“Landlord’s Statement”) respecting the prior calendar year 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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 shall, at Landlord’s option, either be directly refunded to Tenant by check or otherwise, or 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this 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 this 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.

Appears in 1 contract

Samples: Lease Agreement (Zogenix, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes actually incurred for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 expired, provided Tenant Xxxxxx is not in default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordXxxxxxxx’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, unless Landlord fails to deliver such Landlord’s Statement as to Operating Expenses or Taxes (unless such delivery delay as to Taxes is due to a delay in the taxing authority providing updated Tax information) within twenty-four (24) months following the conclusion of the applicable calendar year. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might 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 this 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.

Appears in 1 contract

Samples: Office/Laboratory Lease (BioAge Labs, Inc.)

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 '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 '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 's Statement. Tenant shall pay to Landlord within ten twenty (1020) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s '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 within twenty (20) days 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 4.034.02, provided that the same are timely credited or refunded in accordance herewith. Landlord’s 's failure to deliver Landlord’s '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 '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 's obligation to pay Rent Adjustments accruing prior to the expiration or termination of the Lease survives the such 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.

Appears in 1 contract

Samples: Lease Agreement (Argonaut Technologies Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes 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 abovecalendar year; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Lease Year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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.

Appears in 1 contract

Samples: Office Lease (NovaBay Pharmaceuticals, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after [ * ] = Certain confidential information contained in this document, marked by brackets, has been omitted and filed separately with the end Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. On or before April 1 of each calendar year (or as soon thereafter as reasonably possiblepractical), Landlord will furnish Tenant a statement (“Landlord’s Statement”) respecting the prior calendar year 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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 thirty (1030) 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 shall, at Landlord’s option, either be directly refunded to Tenant by check or otherwise, or 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordXxxxxxxx’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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this 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 this 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.

Appears in 1 contract

Samples: Office/Laboratory Lease (Aduro Biotech, Inc.)

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 '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 '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 '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 '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 's failure to deliver Landlord’s '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 '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 '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.

Appears in 1 contract

Samples: Lease Agreement (Exact Sciences Corp)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleof this Lease, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) Any change in the The Rent Adjustment Deposit due monthly in the current calendar year next following the Adjustment Year, Year including the amount or revised amount due for months preceding any such change pursuant prior to Landlord’s Statementthe rendition of the 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 Tenant, subject to applicable notice and cure periods, 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 4.034.02. Landlord’s failure to deliver Landlord’s Statement or to compute in computing 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.

Appears in 1 contract

Samples: Office Lease (Amber Road, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of the Operating Expenses Base Year and the Taxes Base Year, and each Adjustment Year thereafter (provided however, Landlord shall use commercially reasonable efforts to furnish the statement of actual Expenses on or before June 1 of the calendar year or as soon thereafter as reasonably possible, immediately following the calendar year to which the statement applies) Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year, and thereafter 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 thirty (1030) 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 4.034.02. 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.

Appears in 1 contract

Samples: Office Lease (XOOM Corp)

STATEMENT OF LANDLORD. Within one hundred twenty (120120 ) 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 thirty (1030) 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 for the period prior to the expiration of the Term 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.

Appears in 1 contract

Samples: Lease Agreement (Bolt Biotherapeutics, Inc.)

STATEMENT OF LANDLORD. Within one hundred and twenty (120) days after the end expiration of the Operating Expenses Base Year and the Taxes Base Year and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year and thereafter 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 sixty (1060) 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 within sixty (60) days of completion of such statement 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 4.034.02. 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.

Appears in 1 contract

Samples: Office Lease (Learning Tree International Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 expired, provided Tenant Xxxxxx is not in default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordXxxxxxxx’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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might 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 this 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 payablepayable under this Lease.

Appears in 1 contract

Samples: Office/Laboratory Lease (Avista Public Acquisition Corp. II)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleafter the Base Year, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating Expenses categorized among Project Operating Expenses, Building Actual Operating Expenses and Phase Operating Expenses Taxes for such period the Base Year and Tenant’s Share of each as described in Section 4.01 abovethe applicable calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar year, including the amount or revised amount due for months preceding any such change pursuant to Landlord’s Statement; provided, however that Landlord shall not change the Rent Adjustment Deposit more than two (2) times in any one calendar year. Tenant shall pay to Landlord within ten thirty (1030) 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 against the Rent Adjustment Deposit next coming due, or refunded to Tenant if the Term has 1862335.6 3 already expired provided Tenant is not in default Default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 and release of Tenant’s obligations to pay such amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Yearcalendar 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 Adjustments, and Landlord’s obligation to refund overpayment of Rent Adjustments, survive 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.

Appears in 1 contract

Samples: Lease (Transcept Pharmaceuticals Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of the Operating Expenses Base Year and the Taxes Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year, and thereafter 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 aboveYear; (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; and (d) The amount of any taxes assessed pursuant to Section 4.05 below. Tenant shall pay to Landlord within ten (10) business 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 expired, provided that if Tenant is not then in default hereunder, Landlord may deduct from such refund the amount necessary to cure Tenant’s default. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.02. 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.

Appears in 1 contract

Samples: Office Lease (INSU Acquisition Corp. II)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleafter the Base Year, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes for the last Adjustment Base Year showing in reasonable detail and 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 aboveapplicable calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 Base Rent and Rent Adjustment Deposit next coming due, or promptly 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver Landlord’s Statement or to compute the amount of the Rent Adjustments shall not constitute (i) a waiver by Landlord of its right to deliver such items nor constitute or (ii) 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 Lease Year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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.

Appears in 1 contract

Samples: Office Lease (Zogenix, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleafter the Base Year, Landlord will furnish Tenant a statement ("Landlord’s 's Statement") showing the following: (a1) Operating Expenses and Taxes for the last Adjustment Base Year showing in reasonable detail and 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 aboveapplicable calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar year, including the amount or revised amount due for months preceding any such change pursuant to Landlord’s 's Statement. Tenant shall pay to Landlord within ten thirty (1030) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s 's Statement. Any amounts due from Landlord to Tenant pursuant to this Section shall be credited to the Base Rent and Rent Adjustment Deposit next coming due, or promptly 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s 's failure to deliver Landlord’s 's Statement or to compute the amount of the Rent Adjustments shall not constitute (i) a waiver by Landlord of its right to deliver such items nor constitute or (ii) a waiver or release of Tenant’s 's obligations to pay such amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Lease Year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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 '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.

Appears in 1 contract

Samples: Office Lease (Zogenix Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleafter the Base Year, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses for the last Adjustment Year showing in reasonable detail the actual Operating Expenses categorized among Project Operating Expenses, Building Actual Operating Expenses and Phase Operating Expenses Taxes for such period the Base Year and Tenant’s Share of each as described in Section 4.01 abovethe applicable calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar year, including the amount or revised amount due for months preceding any such change pursuant to Landlord’s Statement; provided, however that Landlord shall not change the Rent Adjustment Deposit more than two (2) times in any one calendar year. Tenant shall pay to Landlord within ten thirty (1030) 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 against the Rent Adjustment Deposit next coming due, or refunded to Tenant if the Term has already expired provided Tenant is not in default Default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 and release of Tenant’s obligations to pay such amounts. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Yearcalendar 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.

Appears in 1 contract

Samples: Lease (Transcept Pharmaceuticals Inc)

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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 4.034.02. 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.

Appears in 1 contract

Samples: Lease Agreement (Maxygen Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar 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 expired, provided Tenant Txxxxx is not in default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. Landlord’s failure to deliver LandlordLxxxxxxx’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 Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might 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 this 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 payablepayable under this Lease.

Appears in 1 contract

Samples: Office/Laboratory Lease (OmniAb, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (a1) Operating Expenses and Taxes 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 aboveprevious calendar year; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less after credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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 (and Landlord’s obligation to refund any overpayment) survive 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, and if Landlord’s liability for refund exceeds the Rent Adjustments payable for one month, any excess shall carry over into the following month.

Appears in 1 contract

Samples: Lease Agreement (Avista Public Acquisition Corp. II)

STATEMENT OF LANDLORD. Within one hundred twenty As soon as feasible after the expiration of the Operating Expenses Base Year and the Taxes Base Year, and each Adjustment Year thereafter, but no later than April 1 following such year (120provided that if Landlord has not received information from third parties necessary to prepare its statement by such date, then in no event later than sixty (60) days after the end following Landlord's receipt of each calendar year or as soon thereafter as reasonably possiblesuch information), Landlord will furnish Tenant a statement ("Landlord’s 's Statement") showing the following: (ai) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year and thereafter 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 's Statement. Subject to Tenant's right to contest the amounts alleged to be due, Tenant shall pay to Landlord within ten thirty (1030) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s '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 that 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.Section

Appears in 1 contract

Samples: Office Lease (Ask Jeeves Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practicable after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish to 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 Actual Operating Expenses and Phase Operating Expenses Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovethe calendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year (or partial calendar year), less credit for Rent Adjustment Deposits other amounts paid, if any; and (c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 hereunderDefault hereunder and no further Rent is due. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar 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 reasonable 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.

Appears in 1 contract

Samples: Lease Agreement (Transcept Pharmaceuticals Inc)

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 thirty (1030) 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.

Appears in 1 contract

Samples: Lease Agreement (Maxygen Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) Landlord shall use commercially reasonable efforts to furnish to Tenant an operating statement showing the actual Operating Expenses incurred for the preceding calendar year within 120 days after the end of each calendar year year. Tenant shall either receive a refund or as soon thereafter as reasonably possible, Landlord will furnish Tenant a statement (“Landlordbe assessed an additional sum based upon the difference between Tenant’s Statement”) showing the following: (a) Operating Expenses for the last Adjustment Year showing in reasonable detail Share of the actual Operating Expenses categorized among Project Operating Expenses, Building and the Additional Rent payments made by Tenant during said year. Any additional sum owed by one party to the other shall be paid within thirty (30) days of receipt of assessment. Landlord shall maintain books and records showing Operating Expenses and Phase real estate taxes in accordance with sound accounting and management practices, consistently applied. The Tenant or its representative (which representative shall be a certified public accountant, in no manner compensated on a contingency basis, licensed to do business in the state in which the Property is located) shall have the right, for a period of forty five (45) days following the date upon which Landlord’s statement is delivered to Tenant, to examine Operating Expenses for such period and Tenant’s Share of each as described Taxes during Standard Operating Hours, upon written notice, delivered at least three (3) business days 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 advance. If Tenant does not object 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 writing to Landlord’s Statement. Tenant shall pay to Landlord statement within ten forty five (1045) days after of Tenant’s receipt thereof, specifying the nature of such statement any amounts for Rent Adjustments the item in dispute and the reasons therefore, then due in accordance with Landlord’s Statementstatement shall be considered final and accepted by Tenant. If Operating Expenses or Taxes for any calendar year are overstated by more than four percent (4%), the third party costs and expenses of Tenant’s review shall be split equally between Landlord and Tenant. Any amounts amount due from to the Landlord as shown on Landlord’s statement, whether or not disputed by Tenant as provided herein shall be paid by Tenant when due as provided above, without prejudice to Tenant any such written exception. The respective obligations of the parties hereto pursuant to this Section 4.02 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 survive 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.

Appears in 1 contract

Samples: Lease Agreement (Rewards Network Inc)

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 '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 Expensesand Taxes, Building Operating Expenses and Phase Operating Expenses for such period and Tenant’s 's Share of each thereof 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 's Statement. Tenant shall pay to Landlord within ten thirty (1030) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s '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 within thirty (30) days after Landlord's Statement is given if the Term has already expired 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 4.034.02. Landlord’s 's failure to deliver Landlord’s '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 '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 's obligation to pay Rent Adjustments survives the expiration or termination of the this 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.

Appears in 1 contract

Samples: NNN Lease (United Natural Foods Inc)

STATEMENT OF LANDLORD. Within Landlord shall use commercially reasonable efforts to furnish to Tenant an operating statement showing the actual Operating Expenses and Taxes incurred for the preceding calendar year 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”). Tenant shall either receive a refund or be assessed an additional sum based upon the difference between (i) showing the following: (a) Operating Expenses for the last Adjustment Year showing in reasonable detail Tenant’s Share of the actual Operating Expenses categorized among Project Operating Expensesand Taxes, Building and (ii) the Additional Rent payments made by Tenant during said year. Any additional sum owed by one party to the other shall be paid within thirty (30) days of receipt of assessment. Landlord shall maintain books and records showing Operating Expenses and Phase Taxes in accordance with sound accounting and management practices, consistently applied. Tenant or its representative (which representative shall be a certified public accountant, in no manner compensated on a contingency basis, licensed to do business in the state in which the Building Project is located) shall have the right, for a period of thirty (30) days following the date upon which Lxxxxxxx’s Statement is delivered to Tenant, to examine Landlord’s books and records with respect to the items in Landlord’s Statement of 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 Taxes for the last Adjustment Yearimmediately preceding calendar year, less credit for Rent Adjustment Deposits paidduring Standard Operating Hours, if any; and upon written notice, delivered at least three (c3) Any change Business Days in the Rent Adjustment Deposit due monthly advance. If Txxxxx does not object in the current Adjustment Year, including the amount or revised amount due for months preceding any such change pursuant writing to Landlord’s StatementStatement within sixty (60) days of Tenant’s receipt thereof, specifying the nature of the item in dispute and the reasons therefor, then Landlord’s Statement shall be considered final and accepted by Txxxxx. Tenant shall pay Any amount due to Landlord within ten (10) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with as shown on Landlord’s Statement, whether or not disputed by Txxxxx as provided herein shall be paid by Tenant when due as provided above, without prejudice to any such written exception. Any amounts due from Landlord to Tenant The respective obligations of the parties hereto pursuant to this Section 4.02 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 survive 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.

Appears in 1 contract

Samples: Lease (InspireMD, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practical after the end expiration of each calendar year or as soon thereafter as reasonably possible(with Landlord making commercially reasonable efforts to do so no later than March 30 of the following calendar year), Landlord will furnish Tenant with a statement respecting the prior calendar year (“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 Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovecalendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar 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 Yearcalendar year, including the amount or revised amount due for months preceding following any such change pursuant to Landlord’s Statement. Tenant shall pay to Landlord within ten thirty (1030) 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 within thirty (30) days after Landlord’s receipt of the xxxx from the applicable vendor or authority showing such actual amount if the Term has already expired expired, provided Tenant is not then in default Default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 amountsamounts unless Landlord fails to deliver such Landlord’s Statement as to Operating Expenses or Taxes (unless such delivery delay as to Taxes is due to a delay in the taxing authority providing updated Tax information) within twenty-four (24) months following the conclusion of the applicable calendar year. The Rent Adjustment Deposit shall be credited against Rent Adjustments due for the applicable Adjustment Yearcalendar year (or partial calendar year). During the last complete calendar year or during any partial calendar year in which the this Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might not be finally determined until after the termination of this Lease, provided that Tenant shall only be liable to Landlord for Rent Adjustments during the Term of the Lease, and not for the entirety of the last calendar year of the Lease. Tenant’s obligation to pay Rent Adjustments survives the expiration or termination of the this 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.

Appears in 1 contract

Samples: Office/Laboratory Lease (Gritstone Oncology, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as feasible after the end expiration of the Operating Expenses Base Year and the Taxes Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement ("Landlord’s 's Statement") showing the followingfollowing with reasonable breakdown and detail: (ai) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year and thereafter 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 's Statement. Tenant shall pay to Landlord within ten thirty (1030) days after receipt of such statement any amounts for Rent Adjustments then due in accordance with Landlord’s '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 In the event that Landlord does not pay within the timeframes established in this Lease, interest or penalties shall accrue at the Default Rate on any amounts which that Landlord is obligated to pay, credit or refund to Tenant by reason of this Section 4.034.02 or any other provision of this Lease. Landlord’s failure to Landlord will deliver Landlord’s 's Statement on or before April 1 of each applicable year. Landlord shall have the right to compute adjust said Statement after submission to Tenant only for cost items which it reasonably could not have known accurately at the amount time of the Rent Adjustments Statement's original submission. Such a restatement shall not constitute a waiver by Landlord of its right to deliver such items nor constitute a waiver or release of Tenant’s '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 '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.

Appears in 1 contract

Samples: Office Lease (Northpoint Communications Group Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practicable after the end expiration of the Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish to Tenant a statement (“Landlord’s Statement”) showing the following: (a) Operating Expenses for the last Adjustment Year showing in reasonable detail the The amount of actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses Taxes for such period the Base Year and Tenant’s Share of each as described in Section 4.01 abovethereafter for the most recent Adjustment Year; (b) The amount of Rent Adjustments due Landlord for the last most recent Adjustment Year, less credit for Rent Adjustment Deposits or other amounts paid, if any, toward Operating Expenses and Taxes for such Adjustment Year; 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 thirty (1030) days after receipt of such statement each Landlord’s Statement any amounts for Rent Adjustments then due in accordance with such 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 hereunderhereunder and no further Rent is due. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Adjustment Year or during any partial calendar year Adjustment 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 or expiration 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.

Appears in 1 contract

Samples: Lease Agreement (Zendesk, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practicable after the end expiration of each calendar year or as soon thereafter as reasonably possibleyear, Landlord will furnish to 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 Actual Operating Expenses and Phase Operating Expenses Taxes for such period and Tenant’s Share of each as described in Section 4.01 abovethe calendar year; (b) The amount of Rent Adjustments due Landlord for the last Adjustment Yearcalendar year, less credit for Rent Adjustment Deposits other amounts paid, if any; and (c) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 thirty (1030) 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 hereunderDefault hereunder and no further Rent is due. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Yearcalendar 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 reasonable 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.

Appears in 1 contract

Samples: Lease Agreement (Transcept Pharmaceuticals Inc)

STATEMENT OF LANDLORD. Within As soon as feasible after the expiration of each Adjustment Year (but in no event later than one hundred twenty and eighty (120180) days after the end of each calendar year or as soon thereafter as reasonably possiblesuch Adjustment Year), Landlord will furnish Tenant a statement ("Landlord’s 's Statement" or "Statement") showing the following: (a1) Operating Expenses and Taxes 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 abovethen ended; (b2) The amount of Rent Adjustments due Landlord for the last Adjustment YearYear then ended, less credit for Rent Adjustment Deposits paid, if any; and (c3) Any change in the The Rent Adjustment Deposit due monthly in the current calendar year next following the Adjustment Year, Year then ended including the amount or revised amount due for months preceding any prior to the rendition of the Statement. If the Rent Adjustments Deposits for the calendar year following the Adjustment Year are estimated to be more than the actual Rent Adjustments for the Adjustment Year then ended, then Landlord shall, at Tenant's request, advise Tenant how Landlord's determination of such change pursuant to Landlord’s StatementRent Adjustment Deposits was made and the reasons for the increase over the actual Rent Adjustments for the Adjustment Year then ended. Tenant shall pay to Landlord within ten thirty (1030) days after receipt of such statement Statement any amounts for Rent Adjustments and Rent Adjustment Deposits then due in accordance with Landlord’s '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 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 4.034.2 unless the amount of the Rent Adjustment Deposits for the Adjustment Year in question were 110% or more of the actual Rent Adjustments for such Adjustment Year, in which event Landlord shall give Tenant an additional credit (or refund, as applicable) equal to interest (at the Default Rate) on all such overpayments. Notwithstanding the preceding sentence, Tenant shall not be entitled to interest on any such overpayment of Rent Adjustments (even if the Rent Adjustment Deposits were 110% or more of the actual Rent Adjustments) if the Rent Adjustments Deposits for the Adjustment Year in question were less than 110% of the actual Rent Adjustments for the preceding Adjustment Year. Landlord’s failure to deliver Landlord’s Statement or to compute 's error in computing the amount of the Rent Adjustments shall not constitute a waiver by Landlord of its right to deliver such items a corrected Landlord's Statement nor constitute a waiver or release of Tenant’s 's obligations to pay any amounts pursuant to such amountsStatement unless such failure to deliver a corrected Statement continues for more than twenty-four (24) months after the end of the calendar year to which such Landlord's Statement pertains. The Payments of Rent Adjustment Deposit Deposits shall be credited first against the 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 reasonable estimate of the Rent Adjustments which may not be finally determined until after the termination of this Lease. Tenant’s 's obligation to pay the Rent Adjustments survives and Landlord's obligation to refund any overpayment of the Rent Adjustments, as the case may be, shall survive the expiration or termination of the this Lease. Notwithstanding Without limiting the foregoinggenerality of the preceding sentence, in no event shall the sum Landlord's obligation to refund any overpayment of Monthly Base Rent and the Rent Adjustments be less than to Tenant shall include paying to Tenant its share of any net refund of Taxes for any Adjustment Year with respect to which Tenant paid Taxes, even if such refund is received by Landlord after expiration or termination of the Monthly Base Rent payableTerm of this Lease.

Appears in 1 contract

Samples: Lease (FSP 303 East Wacker Drive Corp.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days On or before the April 30 after the end expiration of each calendar year of this Lease, or as soon as feasible thereafter as reasonably possibleeach such year, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) Any change in the The Rent Adjustment Deposit due monthly in the current calendar year next following the Adjustment Year, Year including the amount or revised amount due for months preceding any such change pursuant prior to Landlord’s Statementthe rendition of the statement. Tenant shall pay to Landlord within ten thirty (1030) 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 Monthly Base Rent and Rent Adjustment Deposit next coming due; provided, or however, if the amount of the credit exceeds the following month’s Monthly Base Rent and Rent Adjustment Deposit, then Landlord shall refund the excess to Tenant within thirty (30) days after the date of such statement provided Tenant is not in default hereunder; and provided further that any such uncredited amounts shall be refunded to Tenant within thirty (30) days after the date of such statement 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 4.034.02. Landlord’s failure to deliver Landlord’s Statement or to compute in computing 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.

Appears in 1 contract

Samples: Lease (FSP 303 East Wacker Drive Corp.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practicable after the end expiration of the Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish to Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses for the last Adjustment Year showing in reasonable detail the The amount of actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses and Phase Operating Expenses Taxes for such period the Base Year and Tenant’s Share of each as described in Section 4.01 abovethereafter for the most recent Adjustment Year; (bii) The amount of Rent Adjustments due Landlord for the last most recent Adjustment Year, less credit for Rent Adjustment Deposits or other amounts paid, if any, toward Operating Expenses and Taxes for such Adjustment Year; and (ciii) 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) business days after receipt of such statement each Landlord’s Statement any amounts for Rent Adjustments then due in accordance with such 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 hereunderhereunder and no further Rent is due. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Adjustment Year or during any partial calendar year Adjustment 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 or expiration 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.

Appears in 1 contract

Samples: Lease Agreement (Dynavax Technologies Corp)

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 twenty (1020) days after receipt of such statement any arty 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, provided Landlord’s Statement is received within three (3) years after the end of the Adjustment Year to which the Landlord’s Statement applies. 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.

Appears in 1 contract

Samples: Lease Agreement (ARMO BioSciences, Inc.)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days As soon as practicable after the end expiration of the Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish to Tenant a statement (“Landlord’s Statement”) showing the following: (a) Operating Expenses for the last Adjustment Year showing in reasonable detail the The amount of actual Operating Expenses categorized among Project Operating Expenses, Building Operating Expenses aud Taxes for the Base Year and Phase Operating Expenses thereafter for such period and Tenant’s Share of each as described in Section 4.01 abovethe most recent Adjustment Year; (b) The amount of Rent Adjustments due Landlord for the last most recent Adjustment Year, less credit for Rent Adjustment Deposits or other amounts paid, if any, toward Operating Expenses and Taxes for such Adjustment Year; 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 each Landlord’s Statement any amounts for Rent Adjustments then due in accordance with such 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 hereunderhereunder and no further Rent is due. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Adjustment Year or during any partial calendar year Adjustment Year in which the Lease terminates, Landlord may include in the Rent Adjustment Deposit its estimate of Rent Adjustments which may might not be finally determined until after the termination or expiration 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.

Appears in 1 contract

Samples: Sublease (Berkeley Lights, Inc.)

STATEMENT OF LANDLORD. Within one hundred and twenty (120) days after the end expiration of the year specified in the definition of Base Building Operating Expenses and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Base Building Operating Expenses and thereafter Building 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 aboveYear; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) 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 thirty (1030) 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 4.034.02. 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.

Appears in 1 contract

Samples: Office Lease (National Mercantile Bancorp)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days after the end In no event later than April 30th of each calendar year or as soon thereafter as reasonably possible(provided that Landlord will use reasonable efforts to provide such information by March 1), Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following: (ai) Operating Expenses and Taxes 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 aboveprevious calendar year; (bii) The amount of Rent Adjustments due Landlord for the last Adjustment Yearprevious calendar year, less credit for Rent Adjustment Deposits paid, if any; and (ciii) Any change in the Rent Adjustment Deposit due monthly in the current Adjustment Yearcalendar 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 fifteen (1015) 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 within fifteen (15) days after such statement if the Term has already expired provided Tenant is not in default hereunder. No interest or penalties shall accrue on any amounts which that Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.2. 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 Lease Year. During the last complete calendar year Lease Year or during any partial calendar year Lease 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. Landlord’s obligation to provide Landlord’s Statement, Tenant’s obligation to pay Rent Adjustments survives and Landlord’s obligation to refund any excess amounts shall survive 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.

Appears in 1 contract

Samples: Office Lease (Kinemed Inc)

STATEMENT OF LANDLORD. Within one hundred twenty (120) days ​ As soon as feasible after the end expiration of the Operating Expenses Base Year and the Taxes Base Year, and each calendar year or as soon thereafter as reasonably possibleAdjustment Year thereafter, Landlord will furnish Tenant a statement (“Landlord’s Statement”) showing the following:: ​ (a) Operating Expenses and Taxes for the Operating Expenses Base Year and Taxes Base Year, and thereafter 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;Year; ​ (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; and ​ (d) The amount of any taxes assessed pursuant to Section 4.05 below. Tenant shall pay to Landlord within ten (10) business 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 expired, provided that if Tenant is not then in default hereunder, Landlord may deduct from such refund the amount necessary to cure Tenant’s default. No interest or penalties shall accrue on any amounts which Landlord is obligated to credit or refund to Tenant by reason of this Section 4.034.02. 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.. ​

Appears in 1 contract

Samples: Office Lease (Lemonade, Inc.)

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