Tenant’s Costs. Within 60 days after the Commencement Date, and within 60 days after the beginning of each calendar year, Landlord shall give Tenant a written estimate, for such calendar year, of Tenant’s share of the cost of utilities, if not separately metered, taxes and insurance provided by Landlord (“Tenant Costs”). Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance. Within 90 days after the end of each calendar year, Landlord shall furnish to Tenant a statement showing in reasonable detail the costs incurred by Landlord for the operation and maintenance of the Premises during such year (the “Annual Statement”), and Tenant shall pay to Landlord Tenant’s proportionate share of the cost incurred in excess of the payments made by Tenant within 10 days of receipt of such statement. In the event that the payments made by Tenant for the operation and maintenance of the Premises exceed Tenant’s share of the cost of same, such amount shall be credited by Landlord to the Rent or other charges next due and owing, provided that, if the Lease term has expired, Landlord shall accompany said statement with the amount due Tenant. Tenant shall have the right, by giving written notice thereof to Landlord within sixty (60) days after Tenant’s receipt of each Annual Statement, to contest all or any item comprising Tenant Costs and in connection therewith audit Landlord’s books and records relating to Tenant Cost covered by the Annual Statement. Landlord shall promptly provide Tenant with copies of all bills and records supporting the Tenant Costs or any particular item of Tenant Costs specified by Tenant in writing. If Tenant fails to deliver a notice of audit/contest to Landlord within the aforesaid sixty (60) day period, Tenant shall be deemed to have accepted the Annual Statement for the applicable calendar year.
Appears in 6 contracts
Samples: Lease Agreement (Human Genome Sciences Inc), Lease Agreement (BioMed Realty Trust Inc), Lease Agreement (BioMed Realty Trust Inc)
Tenant’s Costs. Within 60 days after the Commencement DateDate (or as soon as reasonably practicable thereafter), and within 60 days after the beginning of each calendar yearyear (or as soon as reasonably practicable thereafter), Landlord shall give Tenant a written estimate, for such calendar year, of Tenant’s 's share of the cost of utilities, if not separately meteredmetered and paid by Tenant, taxes and insurance provided by Landlord (“Tenant Costs”)and expenses in connection with maintenance of common areas and any other maintenance Landlord elects to perform pursuant to the terms of this Lease. Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance. Within 90 days after the end of each calendar yearyear (or as soon as reasonably practicable thereafter), Landlord shall furnish to Tenant a statement showing in reasonable detail the costs incurred by Landlord for the operation and maintenance of the Premises during such year (the “"Annual Statement”"), and Tenant shall pay to Landlord Tenant’s 's proportionate share of the cost incurred in excess of the payments made by Tenant within 10 days of receipt of such statement. In the event that the payments made by Tenant for the operation and maintenance of the Premises exceed Tenant’s 's share of the cost of same, such amount shall be credited by Landlord to the Rent or other charges next due and owing, provided that, if the Lease term has expired, Landlord shall accompany said statement with the amount due Tenant. Tenant shall have Notwithstanding the rightforegoing, by giving written notice thereof Landlord's failure to Landlord within sixty (60) days after Tenant’s receipt of each deliver any statement under this Section 12.9, including any Annual Statement, shall not constitute a waiver of Landlord's right to contest all or collect any item comprising Tenant Costs and in connection therewith audit Landlord’s books and records relating to Tenant Cost covered by the Annual Statement. Landlord shall promptly provide Tenant with copies of all bills and records supporting the Tenant Costs or any particular item of Tenant Costs specified sums owed by Tenant in writing. If Tenant fails pursuant to deliver a notice the terms of audit/contest to Landlord within the aforesaid sixty (60) day period, Tenant shall be deemed to have accepted the Annual Statement for the applicable calendar yearthis Section 12.9.
Appears in 1 contract
Samples: Lease Agreement (Cel Sci Corp)
Tenant’s Costs. Within 60 days after the Commencement Date, and within 60 days after the beginning of each calendar year, Landlord shall give Tenant a written estimate, for such calendar year, of Tenant’s share of the cost of utilities, if not separately metered, taxes and insurance provided by Landlord (“Tenant Costs”)and expenses in connection with maintenance of common areas. Tenant shall pay such estimated amount to Landlord in equal monthly installments, in advance. Within 90 days after the end of each calendar year, Landlord shall furnish to Tenant a statement showing in reasonable detail the costs incurred by Landlord for the operation and maintenance of the Premises during such year (the “Annual Statement”), and Tenant shall pay to Landlord Tenant’s proportionate share of the cost incurred in excess of the payments made by Tenant within 10 days of receipt of such statement. In the event that the payments made by Tenant for the operation and maintenance of the Premises exceed Tenant’s share of the cost of same, such amount shall be credited by Landlord to the Rent rent or other charges next due and owing, provided that, if the Lease term has expired, Landlord shall accompany said statement with the amount due Tenant. At the request of Tenant, to be made within 90 days of receipt by Tenant of the Annual Statement, Landlord shall provide Tenant with copies of invoices, or other forms of payment verification, covering the costs incurred by Landlord as set forth in the Annual Statement. Tenant shall have the right, by giving written notice thereof to Landlord within sixty (60) 90 days after Tenant’s of receipt of each Annual Statementthis additional information, to contest all audit, through a nationally or any item comprising Tenant Costs and regionally recognized firm of certified public accountants engaged on a non-contingency basis, the Landlord’s records in connection therewith audit Landlord’s books and records relating to Tenant Cost covered by with the Annual Statement. Landlord shall promptly provide Tenant with copies of all bills and make the records supporting the Tenant Costs or any particular item of Tenant Costs specified by Tenant in writingreadily available for such examination. If Tenant fails to deliver a notice of audit/contest to Landlord within the aforesaid sixty (60) day period, Tenant shall be deemed to have accepted any audit discloses that the Annual Statement for submitted by Landlord overstates the applicable calendar yearexpenses by more than 5%, Landlord shall pay Tenant within 5 days after written request the reasonable cost of such audit together with any overpayment which may have been made by Tenant. Any information obtained by Tenant pursuant to the provisions of this Section shall be treated as confidential.
Appears in 1 contract