Tenant’s Proportionate Share of Operating Costs. Tenant shall pay to Landlord, as additional rent, its proportionate share of operating costs calculated on the basis of the ratio set forth in Section 8.01. Any payments with respect to any partial calendar year in which the Term commences or ends shall be prorated. Tenant agrees to pay 1,403.52 per month as an escrow amount for operating costs as defined in Article 7.
01. Landlord may, at any time, deliver to Tenant its estimate (or revised estimate) of such additional amounts payable under this Section for each calendar year. On or before the first day of the next month and on or before the first day of each month thereafter, Tenant shall pay to Landlord as additional rent such amount as Landlord reasonably determines to be necessary to bring and keep Tenant current. As soon as practicable after the close of each calendar year, Landlord shall deliver to Tenant a statement showing the total amount payable by Tenant under this Article. If such statement shows an amount due from Tenant that is less than the estimated payments previously paid by Tenant, it shall be accompanied by a refund of the excess to Tenant or at Landlord's option the excess shall be credited against the next monthly installment of rent. If such statement shows an amount due from Tenant that is more than the estimated payments paid by Tenant, Tenant shall pay the deficiency to Landlord, as additional rent. In the event an amount is due and is not paid within thirty (30) days after the date of Landlord's statement to tenant, the unpaid amount shall bear interest at the rate of eighteen (18%) percent per annum from the date of such statement until payment by tenant. Landlord and Tenant acknowledge that certain of the costs of management, operation and maintenance of the Development are allocated among all of the buildings in the Development using methods of allocation that are considered reasonable and appropriate under the circumstances. Tenant hereby consents to such allocations provided that the determination of such costs and the allocation of all or part thereof to Operating Costs hereunder shall be in accordance with generally accepted accounting principles applied on a consistent basis. Tenant or its' representatives shall have the right after seven (7) days prior written notice to Landlord to examine Landlord's books and records of Operating Costs during normal business hours within twenty (20) days following the furnishing of the statement to Tenant. Unless Tenant takes written e...
Tenant’s Proportionate Share of Operating Costs of the Operating Costs as defined in Article 5 allocable to the Building, based upon the rentable square feet of the Premises, compared to the total rentable square feet of the Building.
Tenant’s Proportionate Share of Operating Costs. The Tenant will pay, in accordance with Section 3.6, the Tenant's Proportionate Share of Operating Costs.
Tenant’s Proportionate Share of Operating Costs. 10.053% of the Operating Costs as defined in Article 5 allocable to the Building, based upon the rentable square feet of the Premises, compared to the total rentable square feet of the Building.
Tenant’s Proportionate Share of Operating Costs. The Tenant shall pay to the Landlord as Additional Rent in accordance with Section 3.07 the Proportionate Share of Operating Costs.
Tenant’s Proportionate Share of Operating Costs. (a) The Tenant will pay, in accordance with Section 3.06, the Tenant's Proportionate Share of Operating Costs. Operating Costs include, without limitation and without duplication, the aggregate of:
(i) the total annual costs and expenses of insuring the Lands, the Building and the improvements and equipment and other property servicing the Building from time to time, owned or operated by the Landlord or for which the Landlord is legally liable, in such manner and form, with such companies and such coverage (including, without limitation, insurance covering loss of insurable gross profits) and in such amounts as the Landlord, or the Mortgagee, from time to time determines:
(ii) cleaning (including window cleaning), snow removal, garbage and waste collection and disposal, including those costs referred to in Section 4.02(c), and the costs of security and supervision;
(iii) the aggregate of the costs and amounts paid for (1) all fuel used in heating; (2) all electricity furnished by the Landlord to the Building other than electricity furnished to and paid for by tenants; (3) all hot and cold water other than that chargeable to tenants by reason of their extraordinary consumption of water; (4) heating, air-conditioning and ventilating the Building including individual premises; (5) telephone and other utility costs, used in the maintenance and operation of the Building; and (6) installing energy conservation equipment and safety or life support systems in any portion of the Building;
(iv) salaries, wages and other amounts paid or payable for all personnel including the Building manager and related staff, superintendent, operating and maintenance staff, including contributions and premiums towards fringe benefits, unemployment and Workmen's Compensation insurance, pension plan contributions and similar premiums and contributions and the total charges of any independent contractors or managers engaged in the repair, care, maintenance and cleaning of the Building and any portion of the Lands;
(v) the cost of the rental of any equipment and the cost of supplies, used by the Landlord in the maintenance and operation of the Building and the Lands;
(vi) audit fees and the cost of accounting services incurred in the computation of the rents and charges payable by tenants of the Building;
(vii) all repairs (including major repairs) and replacements to and maintenance and operation of the Building, and the systems, facilities and equipment serving the Building;
(viii) C...
Tenant’s Proportionate Share of Operating Costs. The Tenant will pay, in accordance with Section 4.5. the Tenant's Proportionate Share or the Tenant's Share, as the case may be, of Operating Costs.
Tenant’s Proportionate Share of Operating Costs. The Tenant will pay, in accordance with Section 3.02 and 3.05 its share of building operating costs. Such share may be estimated by the Landlord and the Tenant agrees to pay to the Landlord the Tenant’s Proportionate Share as estimated the sum of eleven thousand eight hundred forty dollars ($11,840.00) annually; payable in consecutive monthly installments of nine hundred eight six and sixty seven cents ($986.67) each in advance, on the first day of each calendar month of each rental year, based upon an estimated annual rate of eight ($8.00) per square foot of rentable area per annum for the calendar year of 2007. The Landlord’s estimates may be revised from time to and as soon as the Landlord has received bills for Taxes, Utilities and Operating Costs, the Landlord may bilx xxe Tenant for the Tenant’s Proportionate Share thereof and the Tenant will pay the amounts billed less all amounts previously paid by the Tenant in accordance with the estimates. The Tenant agrees to pay, over and above the basic rent, Operating Costs, Realty Tax, Utilities and Business Occupancy Tax (when applicable).
Tenant’s Proportionate Share of Operating Costs. For each calendar year falling partly or wholly within the Term, Tenant shall pay to Landlord as Additional Rent its proportionate share of Operating Costs as calculated on the basis of the ratio set forth in Section 8.01. Any payment with respect to any partial calendar year in which the Term commences or ends shall be prorated.
Tenant’s Proportionate Share of Operating Costs. Tenant’s Proportionate Share of Operating Costs is _____%. EAST\148676904.7 TO: Xxxxxxxx Street Real Estate, LLC (and its affiliates, “HSRE”) 000 Xxxx Xxxx Xxxxxx, Xxxxx 0000 Xxxxxxx, Xxxxxxxx 00000 Attn: Xxxx Xxxxxxxxx IRET Properties, a North Dakota Limited Partnership 000 XxXxxxx Xxxxxx, Xxxxx 0000 Xxxxxxxxxxx, XX 00000 Attn: Xxxx Xxxxx RE: ___________________________ ___________________________ To Whom It May Concern: Reference is made to that certain Ground Lease between Lessee, and the undersigned, as Lessor, together with all amendments thereto (collectively, the “Ground Lease”). The real property (the “Property”) which is the subject of the Ground Lease is described in Schedule 1 attached hereto and made a part hereof. Capitalized terms such as Ground Lease, Lessor, and Lessee are defined in Schedule 1, and capitalized terms not defined herein shall have the meaning ascribed in the Ground Lease. Lessee hereby represents to the Benefitted Parties (as defined below) that the following statements are true and correct as of the date hereof:
1. Schedule 1 includes a true and correct description of the Ground Lease and a list of all amendments to the Ground Lease, and attached hereto as Exhibit A is a true, correct and complete copy of the Ground Lease and all amendments.
2. The Ground Lease has been properly executed by Lessor, is in full force and effect and has not been amended, modified, supplemented or superseded except as indicated in Schedule 1 and shown in Exhibit A. The Ground Lease is the entire agreement between Lessor (or any affiliated party) and Lessee (or any affiliated party) pertaining to the Premises.
3. Lessee is not in default in the performance of the terms and provisions of the Ground Lease, nor does any state of facts or condition exist which, with the giving of notice or the passage of time, or both, would result in such a default. EAST\148676904.7
4. There currently is no defense, offset, lien, claim or counterclaim by or in favor of Lessor against Lessee under the Ground Lease or against the obligations of Lessor under the Ground Lease.
5. All obligations of Lessor under the Ground Lease have been performed. Lessor is not in any respect in default in the performance of the terms and provisions of the Ground Lease nor does any state of facts or condition exist which, with the giving of notice or the passage of time, or both, would result in such a default.
6. [Other than the annual base rent, no amounts are payable as rent to Les...
