Common use of Triple Net Lease Clause in Contracts

Triple Net Lease. Except as otherwise expressly provided in this Lease, but without limiting the generality of any other provision of this Lease imposing any obligation on Lessee, (i) it is the purpose and intent of Lessor and Lessee that this Lease shall be a “triple net lease,” such that Lessee shall be responsible to pay or reimburse Lessor for all costs and expenses associated with the Premises (collectively, the “Premises Expenses”), including without limitation, Premises Taxes, Premises Insurance Premiums, operating expenses and fees paid or payable by Lessor with respect to the repair, maintenance and management of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior painting, roof and HVAC, and (ii) except as set forth below, any amount payable by Lessee to Lessor under this Article shall be paid by Lessee to Lessor within ten (10) days after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of the cost of replacement of any item for which Lessor has reserved pursuant to the foregoing, unless the need for replacement is caused by the damage or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) of such amount is $8,533.00), as additional rent. Within the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee shall pay the amount of the revised estimate within thirty (30) days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. Lessor’s failure to prepare and deliver any estimates, operating statements, or bills shall not in any way be deemed to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 shall survive the expiration or earlier termination of this Lease.

Triple Net Lease. Except It is the intent of the parties that the rent applicable under Sections 3.1 and 3.2 hereof shall, except as otherwise expressly may be specifically provided to the contrary in this Lease, but without limiting be absolutely net to Landlord throughout the generality of any term hereof and that Tenant shall, as is provided for and described with more specificity in the various other provision Sections of this Lease imposing any obligation on LesseeLease, (i) it is the purpose and intent of Lessor and Lessee that this Lease shall be a “triple net lease,” such that Lessee shall be responsible to pay or reimburse Lessor for all building services, costs and expenses associated in connection with its use of the Premises (collectively, the “Premises Expenses”)Building, including without limitationutility services and costs, Premises Taxes, Premises Insurance Premiums, operating costs and expenses and fees paid or payable by Lessor with respect to the repair, of maintenance and management repair of the Premises, landscaping maintenance, janitorial and reserves for cleaning services and expenses, real and personal property taxes and insurance relating or allocable to the replacements Building or the activities thereon, and any other items of cost or expense in any way incurred or necessary in Initials: __MR_ __RW_ connection with the use, occupancy, or operation of the landscapingPremises. The fact that Tenant’s use or occupancy of the Premises may be disturbed or interrupted for any reason other than the negligent acts of Landlord shall not in any way suspend, parking lotxxxxx, exterior paintingreduce, roof and HVACor alter the obligation to pay rent hereunder, and except as may be specifically provided to the contrary in this Lease. Throughout the Term of this Lease, Tenant shall pay to Landlord, without deduction, setoff, prior notice, or demand, a monthly CAM Fee of ONE THOUSAND TWO HUNDRED FIFTY DOLLARS (ii) except $1,250.00), as may be adjusted as set forth belowin this Section 3.5, any amount payable by Lessee to Lessor under this Article with each monthly payment being due one month in advance on the first day of each month, commencing on the Commencement Date, and continuing through the Initial Term and the Extended Term. All CAM Fees shall be paid to Landlord at the address to which notices to Landlord are given. The CAM Fee is subject to adjustment as follows: within forty-five (45) days following the end of each calendar year, Landlord shall furnish Tenant a statement covering the calendar year just expired, showing the total actual costs and expenses included in the CAM Fee for such calendar year and the CAM Fee payments made by Lessee Tenant with respect to Lessor such calendar year. If said payments exceed such actual costs and expenses, Tenant shall be entitled to offset the excess against the CAM Fee payment(s) next thereafter to become due Landlord. On the other hand, if such actual costs and expenses exceed Tenant’s payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of said statement, and at Landlord’s option, Landlord may, upon written notice to Tenant, increase the CAM Fee in an amount deemed reasonably necessary by Lessee from Lessor Landlord to cover such expenses during the current calendar year. Tenant or its authorized representative shall have the reasonable right to inspect the books of a xxxx setting forth such amount Landlord, for the purpose of verifying the information contained in reasonable detailthe statement. The failure of Lessee to pay any parties shall make such amount within said ten appropriate payments or reimbursements (10) day period shall carry with it in the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary manner set forth above in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of the cost of replacement of any item for which Lessor has reserved pursuant to the foregoing, unless the need for replacement is caused by the damage or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) of such amount is $8,533.00paragraph), as additional rent. Within the first ninety (90) days of case may be, to each subsequent Lease Yearother, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee shall pay the amount of the revised estimate within thirty (30) days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. Lessor’s failure to prepare and deliver any estimates, operating statements, or bills shall not in any way be deemed as are determined to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable owing pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 shall survive the expiration or earlier termination of this Leaseinvestigation.

Triple Net Lease. Except as otherwise expressly provided in this Lease, but without limiting the generality of any other provision of this Lease imposing any obligation on Lessee, (i) it It is the purpose and intent of Lessor Landlord and Lessee Tenant that this Lease be a triple net Lease. a. Notwithstanding anything to the contrary anywhere hereunder, including in Sections 2, 3, 4, and 6, Tenant shall be a “triple net lease,” such that Lessee responsible, at its sole cost and expense, for the entire and full maintenance, repair, and upkeep of the Premises and the Building and for the maintenance, repairs, replacements, and matters, including but not limited to those described in said sections and elsewhere; provided, however, Tenant shall not be responsible for repairs to pay or reimburse Lessor for all costs and expenses associated with the Premises (collectively, the “Premises Expenses”), including without limitation, Premises Taxes, Premises Insurance Premiums, operating expenses and fees paid or payable by Lessor with respect to the repair, maintenance and management of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior paintingroof, roof and HVACor structure more than $10,000 per occurrence. (For parking lot repairs, the only expenses for which Landlord shall be liable are expenses in excess of $10,000 for each occurrence to repair the parking lot to the condition it is now. Landlord shall not be responsible for upgrades.) Tenant shall keep the Property, Premises, Building, grounds, and (ii) except as set forth belowparking lot in good working order and repair and shall fix or replace all items which are broken. Tenant shall comply with all laws, any amount payable by Lessee to Lessor under this Article rules, regulations, codes, and ordinances, at its expense. Landlord and its agents shall be paid by Lessee entitled to Lessor within ten (10) days periodically enter the Premises for the reason of inspection and to observe whether the Tenant is properly maintaining the Premises. Landlord shall be under no duty to inspect. If Landlord does inspect, such inspection shall not be a waiver of any right of Landlord or duty of Tenant. If after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality inspection of the foregoingPremises by Landlord, initiallyLandlord makes a good-faith determination that the maintenance is inadequate, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary Landlord shall notify Tenant in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of the cost of replacement of any item for which Lessor has reserved pursuant to the foregoing, unless the need for replacement is caused by the damage or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) writing of such amount is $8,533.00), as additional rentdetermination. Within In the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for event Tenant fails to correct such Lease Year and Lessee shall pay the amount of the revised estimate situation within thirty (30) days after Lessor’s delivery of receipt of such notice or if the nature of the revised estimate. Until situation is such that it cannot reasonably be corrected within a period of thirty (30) days and work thereon has not been initiated and diligently pursued to completion, Landlord shall have the Lessor delivers right to declare a default; and Landlord shall also have the estimate for right to elect to perform and assume the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate maintenance and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day repair of the month following Lessor’s delivery of said noticePremises and to perform the obligations set forth in Sections 2,3,4, and 6 hereof, all at Tenant's expense. Lessor’s failure to prepare and deliver any estimates, operating statements, or bills shall not in any way be deemed to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be addedIn either event, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 Sections 2,3,4, and 6.b. relating to maintenance shall survive the expiration or earlier termination of this Leaseapply.

Triple Net Lease. Except The parties desire to, and hereby do, clarify, that it is, and always was, the intention of the parties that this Lease be, and it is, an absolute “triple net lease” and that the rent to be paid hereunder by Tenant will be received by Landlord without any deduction or offset whatsoever by Tenant, foreseeable or unforeseeable, except as otherwise expressly specifically provided in this Lease, but without limiting the generality and free and clear of any other provision and all expenses, costs, impositions, taxes, assessments, liens or charges of any nature whatsoever. Landlord shall not be required to make any expenditure, incur any obligation, or incur any liability of any kind whatsoever in connection with this Lease imposing or the ownership, construction, maintenance, operation or repair of the Premises except as specifically provided in this Lease. Tenant shall in no event be entitled to any obligation on Lesseeabatement of or reduction in rent payable under this Lease, (i) it is except as specifically provided in this Lease. Any present or future law to the purpose and intent contrary shall not alter this agreement of Lessor and Lessee that this Lease shall be a “triple net lease,” such that Lessee shall be responsible the parties. Tenant agrees to pay directly to the taxing authority all real property taxes and general assessments (but not special assessments) (hereinafter, “Real Estate Taxes”) which may be levied or reimburse Lessor assessed against the Demised Premises by any lawful authority for each calendar year or portion thereof commencing on the Commencement Date. Said Real Estate Taxes are to be prorated for any partial Lease Year occurring during the period in which the taxing authority assesses Real Estate Taxes. Upon receipt of all costs tax bills and expenses associated assessment bills attributed to any calendar year during the Term hereof, Landlord shall furnish Tenant with a copy of such tax bills, and Tenant shall pay such actual amount at least 10 days prior to the Premises (collectively, payment due date established by the “Premises Expenses”), including without limitation, Premises Taxes, Premises Insurance Premiums, operating expenses and fees paid or payable by Lessor taxing authority. Landlord’s failure to render a statement to Tenant with respect to the repairany real estate tax bxxx,’ insurance premium,’ assessment, maintenance and management of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior painting, roof and HVAC, and (ii) except as set forth below, any amount payable by Lessee to Lessor under this Article shall be paid by Lessee to Lessor within ten (10) days after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision and/or other expense whatsoever related to the contrary in this LeaseDemised Premises shall not prejudice Landlord’s right to render a Landlord’s statement retroactively, provided Lessee makes the payments of Premises Expenses pursuant to this Articleprovided, Lessee shall have no further responsibility Tenant is not responsible for any part of the cost of replacement of any item for which Lessor has reserved pursuant to the foregoinglate fees, unless the need for replacement is caused by the damage interest or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) of such amount is $8,533.00), as additional rent. Within the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee shall pay the amount of the revised estimate within thirty (30) days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate penalties resulting from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. LessorLandlord’s failure to prepare and deliver render such statement to Tenant at least 30 days prior to delinquency. The obligations of Tenant hereunder with respect to any estimates, operating statements, of the foregoing or bills shall not in any way be deemed other expenses to be a waiver of, or cause Lessor passed through to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 Tenant shall survive the expiration or earlier sooner termination of this Leasethe term for a period of six months.

Triple Net Lease. Except This Lease is what is commonly called a “Net, Net, Net Lease”, it being understood that, except as otherwise expressly provided herein, the Landlord shall receive all rent free and clear of any and all other impositions, taxes, liens, charges or expenses of any nature whatsoever in connection with the ownership and operation of the Premises. In addition to Annual Base Rent, Tenant shall pay to the parties respectively entitled thereto, or satisfy directly, Tenant’s Share of all impositions, insurance premiums, operating charges, maintenance charges, construction costs (other than for the initial construction of the Landlord’s Work), Real Property Taxes, CC&Rs charges or assessments or liabilities, costs and expenditures of Landlord in performing any and all maintenance obligations under Paragraph 10.3 hereof, and Tenant’s Share of any and all other present or future charges, costs, obligations, liabilities, requirements, and expenses of any kind or nature which arise with regard to the Premises or may be contemplated under any provisions of the Lease during the Term and relating to the period following the Commencement Date, except as otherwise expressly provided in this LeaseLease (collectively, but without limiting “Operating Expenses”). If the generality of Building is at any other provision of this Lease imposing any obligation on Lesseetime less than 90% occupied and/or assessed, (i) Operating Expenses shall be “grossed-up” to an amount that would have been incurred by Landlord had the Building been 100% occupied and/or assessed, PROVIDED that it is the purpose of such “grossing-up” of Operating Expenses to ensure that Tenant is responsible for the appropriate share of Operating Expenses, and PROVIDED that is not the intent of Lessor and Lessee the parties that this Lease Tenant shall be required to pay expenses incurred by Landlord in connection with space in the Building that is not part of the Premises and not part of the Common Areas. For example, if (a) Tenant were the sole tenant in the Building (i.e., the Building is 71.22% occupied), (b) Landlord’s actual costs for a given item of Operating Expense in a given month equal $712.20; and (c) if the Building were 100% occupied, Landlord’s actual costs for such item of Operating Expense in such month would be $1,000.00, the parties agree that Landlord’s actual cost of $712.20 for such item of Operating Expense will be “triple net lease,grossed up” to $1,000.00. However, Tenant’s Share of Operating Expenses is not affected by such “grossing up” so that Lessee Tenant shall be responsible to pay or reimburse Lessor for all costs and expenses associated with the Premises (collectively, the “Premises Expenses”), including without limitation, Premises Taxes, Premises Insurance Premiums, operating expenses and fees paid or payable by Lessor with respect to the repair, maintenance and management of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior painting, roof and HVAC, and (ii) except as set forth below, any amount payable by Lessee to Lessor under this Article shall be paid by Lessee to Lessor within ten (10) days after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of the cost of replacement of any item for which Lessor has reserved pursuant to the foregoing, unless the need for replacement is caused by the damage or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) 71.22% of such amount is $8,533.00), as additional rent. Within the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee shall pay the amount of the revised estimate within thirty (30) days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. Lessor’s failure to prepare and deliver any estimates, operating statements“grossed up” amount, or bills shall not in any way be deemed to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 shall survive the expiration or earlier termination of this Lease$712.20.

Triple Net Lease. Except for the costs of organizing, promoting, producing and presenting each of the Landlord Events (which shall be the obligation of Landlord as otherwise expressly provided specified in this LeaseSection 6.1(a) hereof), Tenant shall be responsible, at its sole cost and expense throughout the Term, to pay and discharge all costs and expenses incurred in, relating to or arising out of the use, ownership, operation, maintenance and repair of the Amphitheater and the Amphitheater Tract. In connection with the foregoing, but without limiting its generality, the generality parties agree as follows: (a) In addition to Tenant's obligations in respect of the Parking Facilities as specified in Section 8.2 hereof, Tenant shall, during the Term keep and maintain the Amphitheater and the Amphitheater Tract in good and sanitary order, condition and repair, ordinary wear and tear excepted. (b) In addition to Tenant's obligations to pay the costs of electrical lighting for the Parking Facilities to the extent provided for in Section 8.2 hereof, Tenant shall, during the Term, pay for all utilities (including, without limitation, gas, electricity, water, sewage and fuel) to the extent used in or on the Amphitheater Tract, and Landlord, in its capacity as Landlord under this Lease (not in its capacity as a third party), shall have no responsibility for any interruptions in the supply of such utilities. Tenant shall have the express right and authority, at its sole cost and expense, to provide separate metering for all utilities supplied to the Amphitheater Tract and the Parking Tracts as opposed to the utilities supplied to the Park Tract. In addition to the foregoing, Tenant shall be obligated to purchase and install its own telephone system on the Amphitheater Tract and to pay for the cost of installation, operation and maintenance of such phone system. (c) Tenant shall pay all fees, costs and similar charges in connection with the obtaining and subsequent renewing of any other provision and all Required Permits and complying with all Legal Requirements. (d) As required pursuant to the provisions of this Lease imposing any obligation on LesseeSection 4.6 hereof, Tenant will pay as and when the same shall become due Impositions attributable to (i) it is the purpose and intent of Lessor and Lessee that this Lease shall be a “triple net lease,” such that Lessee shall be responsible to pay or reimburse Lessor for all costs and expenses associated with the Premises (collectively, the “Premises Expenses”), including without limitation, Premises Taxes, Premises Insurance Premiums, operating expenses and fees paid or payable by Lessor with respect to the repair, maintenance and management of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior painting, roof and HVAC, Amphitheater Tract and (ii) except as set forth below, any amount payable by Lessee to Lessor under this Article shall be paid by Lessee to Lessor within ten (10) days after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality use of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of the cost of replacement of any item for which Lessor has reserved Parking Tracts by Tenant pursuant to the foregoing, unless the need for replacement is caused by the damage or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Term, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) of such amount is $8,533.00), as additional rent. Within the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee shall pay the amount of the revised estimate within thirty (30) days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. Lessor’s failure to prepare and deliver any estimates, operating statements, or bills shall not in any way be deemed to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 shall survive the expiration or earlier termination of this LeaseParking License.

Triple Net Lease. Except as otherwise expressly provided in this Lease, but without limiting the generality of any other provision of (a) Landlord and Tenant intend that this Lease imposing any obligation on Lesseeand Tenant's use and occupancy of the Premises be "triple net" to Landlord. Accordingly, Tenant shall: (i) it is Pay all taxes, assessments, rates, duties and other charges of every kind levied, charged, imposed or assessed by or under any present or future law or authority for, upon or against the purpose Premises or any part thereof, commencing with the taxes, assessments, rates, duties and intent other charges assessed against the Premises during the Term (excluding any taxes assessed against Landlord for income or for its use of Lessor the Premises); (ii) Pay for and Lessee that this Lease shall be a “triple net lease,” such that Lessee shall be responsible to perform all maintenance of the Premises; (iii) Arrange for and pay or reimburse Lessor for all costs and expenses associated with utilities serving the Premises (collectively, the “Premises Expenses”)Premises, including without limitationall charges for electricity, Premises Taxesgas, Premises Insurance Premiumswater, operating expenses sewer, trash collection and fees paid any other utility or payable by Lessor service used or consumed on the Premises, accruing with respect to the repair, maintenance and management Tenant's occupancy of the Premises, and reserves for the replacements of the landscaping, parking lot, exterior painting, roof and HVAC, and Premises during Term; and (iiiv) except as set forth below, any amount payable by Lessee to Lessor under this Article shall be paid by Lessee to Lessor within ten (10) days after receipt by Lessee from Lessor of a xxxx setting forth such amount in reasonable detail. The failure of Lessee to pay any such amount within said ten (10) day period shall carry with it the same consequences as the failure to pay any installment of Base Rent. While not a limitation on the applicability or generality of the foregoing, initially, Lessor will contract directly for Premises landscape maintenance and HVAC maintenance. Notwithstanding any provision to the contrary in this Lease, provided Lessee makes the payments of Premises Expenses pursuant to this Article, Lessee shall have no further responsibility for any part of Pay the cost of replacement of insurance for the Premises in accordance with Section 7. (b) Landlord shall fully cooperate at Tenant's reasonable expense in contesting any item taxes or pursuing any rebates, subsidies or similar items applicable to the Premises for which Lessor has reserved pursuant Tenant is responsible. But if in any lease year taxes increase substantially over the amount owed in the preceding lease year, Landlord and Tenant shall work together to contest the taxes and shall apportion the expenses of contesting and the final amount of the taxes between themselves in any manner agreeable to both. In addition, Tenant shall pay for the reasonable cost of additions or alterations made by Landlord to the foregoingPremises that are required in order to comply with applicable laws or codes, unless all as amended from time to time after the need Commencement Date. Landlord shall invoice Tenant on a timely basis for replacement is caused by the damage taxes. Upon Landlord's delivery to Tenant of invoices or abuse by Lessee or any of Lessee’s Agents. On the first day of each calendar month included in the first Lease Year of the Termother documentation reasonably evidencing such costs, Lessee shall pay one-twelfth (l/12th) of the amount of Lessor’s estimated Premises Expenses for such first Lease Year (such estimated amount [the “Initial Estimated Amount”] is $102,400.00 and one-twelfth (1/12th) of such amount is $8,533.00), as additional rent. Within the first ninety (90) days of each subsequent Lease Year, Lessor will provide Lessee with an estimate of Premises Expenses for such Lease Year and Lessee Tenant shall pay the amount of the revised estimate each such invoice within thirty (30) 30 days after Lessor’s delivery of the revised estimate. Until the Lessor delivers the estimate for the then current Lease Year, Lessee’s payments will be based upon the estimate from the previous year. At any point during any Lease Year, Lessor may revise its estimate for that Lease Year if Lessor has a reasonable basis for the belief that the ultimate Premises Expenses for that Lease Year will be more than five percent (5%) above the current estimate and Lessor may deliver written notice to Lessee increasing the estimated payments for the remainder of that Lease Year. Lessee will pay the increased amount beginning on the first day of the month following Lessor’s delivery of said notice. Lessor’s failure to prepare and deliver any estimates, operating statements, or bills shall not in any way be deemed to be a waiver of, or cause Lessor to forfeit or surrender, its rights to collect any additional rent that may have become due. The Initial Estimated Amount is based upon 82.5 tons of HVAC. Subject to the terms and conditions of this Lease, should additional tonnage be added, the amount estimated for Premises Expenses shall be increased to reflect the added cost to service and repair the additional HVAC, as well as to maintain reasonable reserves for the additional capacity. The amounts payable pursuant to the foregoing shall be payable for all months included in the Term. Within ninety (90) days following the end of each Lease Year, Lessor shall give to Lessee a statement (a “Statement”) which shall state the actual Premises Expenses incurred during such Lease Year. Within ten (10) days of its receipt of any Statement, Lessee shall pay to Lessor the amount, if any, by which the actual Premises Expenses exceed the aggregate estimated payments made by Lessee during the period included in such Statement. If such aggregate estimated payments exceed such actual Premises Expenses, the excess shall be credited against the estimated payments to be made by Lessee during the next succeeding Lease Year, provided that if such Statement pertains to the last Lease Year included in the Term, the excess shall be refunded to Lessee within ten (10) days after Lessor’s determination of the actual Premises Expenses for such last Lease Year. The failure of Lessor to timely furnish the Statement for any Lease Year shall not prejudice Lessor or Lessee from enforcing their respective rights under this Article 65. The provisions of this Article 65 shall survive the expiration or earlier termination of this Leasereceiving it.