Escalation Statement definition

Escalation Statement means a statement in writing signed by Landlord, setting forth the amount payable by Tenant for a specified Tax Year or Operating Year, as the case may be, pursuant to this Article 26, setting forth in reasonable detail the computation of any additional rent payable pursuant to this Article.

Escalation Statement means a statement setting forth the amount payable by Tenant for a specified Tax Year or Operating Year (as defined in Section 3.02), as the case may be, or for some portion thereof pursuant to this Article 3.

Escalation Statement means a statement by Landlord, setting forth the amount payable by Tenant or by Landlord, as the case may be, for a specified calendar year pursuant to this Article 4.

Examples of Escalation Statement in a sentence

• Landlord’s failure to submit statements to Tenant stating the amount of Fixed Monthly Rent or Additional Rent then due, including Landlord’s failure to provide to Tenant a calculation of the adjustment as required in Section 3.3 or the Escalation Statement referred to in Article 4, shall not constitute Landlord’s waiver of Tenant’s requirement to pay the Rent called for herein.

• Landlord's failure to submit statements to Tenant stating the amount of Fixed Monthly Rent or Additional Rent then due, including Landlord's failure to provide to Tenant a calculation of the adjustment as required in Section 3.3 or the Escalation Statement referred to in Article 4, shall not constitute Landlord's waiver of Tenant's requirement to pay the Rent called for herein.

• However, if the Operating Expenses (for the Building as a whole) were overstated in the applicable Escalation Statement by five percent (5%) or less, or was in fact understated, the Tenant shall promptly pay the fees and expenses of the Accountant and all other costs of such determination (including, without limitation, the amount of Operating Expenses owed to Landlord as evidenced by the inspection).

• Tenant shall commence payment to Landlord of the Estimated Escalation Increase for the then current Comparison Year, beginning on the first (1st) day of the month following the month in which Tenant receives the applicable Escalation Statement.

• To the extent that the actual Escalation Increase exceeds the Estimated Escalation Increase paid by Tenant for the Comparison Year just completed, Tenant shall pay Landlord the difference, in cash within thirty (30) days following receipt by Tenant from Landlord of the Escalation Statement.

More Definitions of Escalation Statement

Escalation Statement means a statement setting forth the amount payable by Tenant for a specified Tax Year pursuant to this Article 4.

Escalation Statement means a statement in writing from Landlord, setting forth the amount payable by Tenant for a specified Tax Year or Operating Year, as the case may be, pursuant to this Article 26, which statement shall include in reasonable detail the computation of any additional rent payable pursuant to this Article. Landlord shall furnish Tenant with a copy of the current bill for the current Tax Year within ten (10) business days after tenant’s request in writing for such tax bill.

Escalation Statement means a statement setting forth the amount payable by the Tenant in respect of the Cost of Operation and Maintenance for a specified Computation Year. Escalation Statements shall be substantially in the form of Exhibit I attached hereto.

Escalation Statement means a written statement setting forth the amount due from Tenant for a specified Computation Year pursuant to this Article 22. Section 22.02 If Landlord shall purchase any item of capital equipment or make any capital expenditure (i) for the purpose of complying with Requirements arising after the date hereof or for the purpose of reducing the Cost of Operation (if reasonably determined by Landlord based on engineering estimates of the reduced cost), or (ii) in the ordinary prudent operation and maintenance of the Building, then the cost of such capital equipment or capital expenditure shall be included in the Cost of Operation beginning with the year in which such expense is incurred. The amount of such capital equipment or capital expenditure to be included in each year's Cost of Operation shall be the portion of the cost of such capital equipment or capital expenditure amortized on a straight line basis over the estimated useful life as reasonably determined by Landlord (in accordance with generally accepted accounting principles, to the extent that the same address useful lives), plus an interest factor equal to the interest at the rate of 9% per annum. If Landlord shall lease any such item of capital equipment, then the annual amount paid by Landlord on account of such lease shall be included in the Cost of Operation, if the cost of such equipment, if purchased, would be includable in the Cost of Operation-Section 22.03 If the Cost of Operation for any Computation Year shall be greater than the Cost of Operation for the Base Year, Tenant shall pay to Landlord as Additional Rent for the Premises for such Computation Year, an amount equal to the product obtained by multiplying such increase by Tenant's Share ("Tenant's Operating Payment").

Escalation Statement means a final statement setting forth the amount payable by the Tenant or the Landlord, as the case may be, for a specified Computation Year pursuant to this Article.

Escalation Statement means a statement setting forth the amount payable by Tenant for a specified Tax Year or Operating Year (as the case may be) pursuant to this Article 3. 3.02. A. After the expiration of the Base Year and any Operating Year, Landlord shall furnish Tenant an Escalation Statement setting forth Tenant's Proportionate Share of Increase, with respect to the Operating Expenses incurred for such Base Year or Operating Year. Within thirty (30) days after receipt of such Escalation Statement for any Operating Year, Tenant shall pay Tenant's Proportionate Share of Increase to Landlord as additional rent.

Escalation Statement means a statement setting forth in reasonable detail the amount payable by Tenant for a specified Tax Year or Operating Year (as the case may be) pursuant to this Article 3. 3.02. A. After the expiration of the Base Year, Landlord shall furnish Tenant a statement setting forth the Operating Expenses incurred for such Base Year. After the expiration of any Operating Year, Landlord shall furnish Tenant an Escalation Statement setting forth Tenant's Proportionate Share of Increase with respect to the Operating Expenses incurred for such Operating Year. Within thirty (30) days after receipt of such Escalation Statement for any Operating Year, Tenant shall pay Tenant's Proportionate Share of Increase to Landlord as additional rent to the extent set forth in Section 3.02B hereof.