Examples of Estimated Operating Costs in a sentence
If Xxxxxx’s Proportionate Share of Operating Costs for any Calendar Year exceeds the payments received by Landlord towards Tenant’s Proportionate Share of Estimated Operating Costs for such year, Tenant shall pay to Landlord Tenant’s Proportionate Share of the Operating Costs Adjustment within thirty (30) days after delivery of the Cost Statement.
Tenant shall pay as Additional Rent Tenant’s Proportionate Share of Estimated Operating Costs in advance, on or before the first day of each calendar month, in the same manner as set forth above for Basic Rent.
Landlord shall, within a reasonable period of time after the end of any Calendar Year for which Estimated Operating Costs differs from actual Operating Costs, give written notice thereof to Tenant (a “Cost Statement”).
The term “Operating Costs Adjustment” for any Calendar Year shall mean the difference, if any, between Estimated Operating Costs and actual Operating Costs for that Calendar Year.
Until a new statement of Estimated Operating Costs is received Tenant shall continue to make the monthly payment of Estimated Operating Costs applicable to the prior year.