Estimated Payments definition

Estimated Payments has the meaning set forth in Section 6.7(d).
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Estimated Payments shall be an amount equal to 1/12th of Tenant’s Proportionate Share of Estimated Operating Costs for any given calendar year. Tenant shall pay such Estimated Payments to Landlord in advance on the first day of each month. If Landlord determines in its reasonable opinion that Landlord’s initial determination of Estimated Operating Costs was incorrect, then Landlord shall have the right to adjust the Estimated Operating Costs and the Estimated Payments as necessary; provided, however, Landlord shall not have the right to adjust such Estimated Operating Costs and/or Estimated Payments more than once in any one calendar year or more than twenty percent (20%) of the Landlord’s initial estimate. Notwithstanding the foregoing sentence, the twenty percent (20%) cap on increasing the Landlord’s initial estimate in any one year shall not create any type of cap or otherwise adversely effect or reduce any Operating Cost Reimbursement (defined below) that Tenant may owe to Landlord hereunder. If Landlord fails to timely notify Tenant prior to the beginning of a calendar year of the Estimated Operating Costs and Estimated Payments for the upcoming calendar year, then Tenant shall continue to pay the Estimated Payments for the prior calendar year until Landlord does notify Tenant of the new Estimated Operating Costs and Estimated Payments. Within a reasonable period after the end of each calendar year, Landlord shall furnish Tenant a statement indicating in reasonable detail the actual Operating Costs for the previous calendar year and the parties shall, within thirty (30) days thereafter, make any payment or allowance necessary to adjust Tenant’s Estimated Payments to Tenant’s actual share of such Operating Costs as indicated by such annual statement (“Operating Cost Reimbursement”). Any payment due Landlord shall be payable by Tenant within thirty (30) days after Landlord’s written demand therefor. Any amount due Tenant shall be credited against Rent installments next becoming due under this Paragraph 3(c) or refunded to Tenant, if requested by Tenant. Real Estate Taxes for each calendar year shall be the Real Estate Taxes that accrue for the year (which, under the current law, are payable in the following calendar year). A final tax bxxx shall be conclusive evidence of the amount of Real Estate Taxes, unless Landlord appeals the amount of such Real Estate Taxes or the assessment of the Building. The terms and provisions of this Paragraph 3 shall survive the expiration ...
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Examples of Estimated Payments in a sentence

  • If, during any Operating Expense Year, there is a change in the information on which Tenant is then making its Estimated Payments so that the prior estimate is no longer accurate, Landlord may revise the estimate and there shall be such adjustments made in the monthly Rent on the first day of the month following notice to Tenant as shall be necessary by either increasing or decreasing, as the case may be, the amount of monthly Rent then being paid by Tenant for the balance of the Operating Expense Year.

  • If the Estimated Payment made by Tenant exceeds Tenant’s Cost Allocation for such year, then Landlord shall credit against Tenant’s next ensuing Estimated Payment(s) an amount equal to the difference until the credit is exhausted.

  • If the growth curve is a simple exponential growth curve $\gamma(t)$ will be just a positive constant in (2).

  • If the Estimated Payments exceed Txxxxx’s Proportionate Share of the Actual Expenses, then Lxxxxxxx agrees to refund the difference at the time that such statement is furnished.

  • If Txxxxx’s Proportionate Share of the Actual Expenses exceeds the Estimated Payments, for the same period of time, then Txxxxx agrees to pay within thirty (30) days of receipt of said statement, the difference between Txxxxx’s Proportionate Share of the Actual Expenses and the Estimated Payments.

  • Until a new Estimate Statement is furnished, Tenant shall pay monthly, with the monthly Base Rent installments, an amount equal to one-twelfth (1/12) of the total Estimated Payments set forth in the previous Estimate Statement delivered by Landlord to Tenant.

  • At the end of each quarter during the Term, the Company will calculate the actual Royalties payable to the Company during the prior quarter and submit an invoice to the Operator describing any overpayment or underpayment in Royalties as compared to Estimated Payments made during the applicable quarter.

  • Any overpayment by the Operator will be credited toward and reduce the next quarter’s Estimated Payments, while any underpayment will be cured by the Operator and paid to the Company within thirty (30) days following delivery of the applicable quarterly invoice.

  • If the Operating Expense Statement indicates that Tenant’s Share exceeded the Estimated Payments, then Tenant shall remit the difference to Landlord as Additional Rent.

  • In the event that the Estimated Payments for any year exceeds the Required Amount for such year, the excess shall be credited by Landlord to the next installment(s) of Additional Rent coming due and payable or, in the event such calendar year is the last year of the Term, remitted by Landlord to Tenant provided Tenant is not in default of its obligations under this Lease and there are no damages to the Premises or the remainder of the Property caused by Tenant or its employees, agents or contractors.

Related to Estimated Payments

  • Permitted Payment as defined in Subsection 8.2(b).

  • Permitted Payments has the meaning specified in Section 7.06(b).

  • Excepted Payments means and include (i)(A) any right, title or interest to any indemnity (whether or not constituting Supplemental Rent and whether or not a Lease Event of Default exists) payable to either the Owner Lessor, the Lessor Manager, the Trust Company, or the Owner Participant or to their respective Indemnitees and successors and permitted assigns (other than the Indenture Trustee) pursuant to Section 2.3, 9.1, 9.2, 11.1 or 11.2 of the Participation Agreement, and any payments under any Tax Indemnity Agreement (provided that Excepted Payments shall not include any Periodic Rent) or (B) any amount payable by the Facility Lessee to the Owner Lessor or the Owner Participant to reimburse any such Person for its costs and expenses in exercising its rights under the Operative Documents or the South Point Ground Lease, (ii)(A) insurance proceeds, if any, payable to the Owner Lessor or the Owner Participant under insurance separately maintained by the Owner Lessor or the Owner Participant with respect to the Facility as permitted by Section 3(b) of Schedule 5.31 to the Participation Agreement or (B) proceeds of personal injury or property damage liability insurance maintained under any Operative Document or the South Point Ground Lease for the benefit of the Owner Lessor or the Owner Participant, (iii) any amount payable to the Owner Participant as the purchase price of the Owner Participant's right and interest in the Member Interest, (iv) all other fees expressly payable to the Owner Participant under the Operative Documents, (v) any payments in respect of interest, or any payments made on an After-Tax Basis, to the extent attributable to payments referred to in clause (i) through (vi) above; (vii) any amounts paid to the Owner Lessor as reimbursement for amounts expended pursuant to Section 20 of the Facility Lease; (viii) proceeds of the items referred to in clause (i) through (vii) above; and (ix) any rights to demand, collect, sue for, or otherwise receive and enforce payment of the foregxxxg amounts, including under the Calpine Guaranty, but without limiting clause (v) of this definition above.

  • Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • Specified Payment means any Permitted Acquisition, Investment, loan, advance, incurrence of or payment with respect to Indebtedness or other transaction made subject to satisfaction of the Payment Conditions or any component thereof.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Insured Payments means, with respect to any Distribution Date, the aggregate amount actually paid by the Certificate Insurer to the Trustee in respect of (i) Insured Amounts for a Distribution Date and (ii) Preference Amounts for any given Business Day.

  • Estimated Indebtedness has the meaning set forth in Section 2.4(a).

  • Restricted Payments as defined in Section 7.6.

  • Cash Expenses means, for any period, the Operating Expenses for the operation of the Property as set forth in an Approved Annual Budget to the extent that such expenses are actually incurred by Borrower minus any payments into the Tax and Insurance Escrow Fund.

  • Permitted Payments to Parent means, without duplication as to amounts:

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Deferred Payment means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Insured Payment means (a) as of any Distribution Date, any Deficiency Amount and (b) any Preference Amount.

  • Excluded Payments means (i) indemnity payments paid or payable by Lessee to or in respect of Owner Participant, or Owner Trustee in its individual capacity, their respective Affiliates, successors and permitted assigns and their directors, officers, employees, servants and agents pursuant to Section 9 of the Participation Agreement or any corresponding payments under the Lease, (ii) proceeds of public liability insurance paid or payable as a result of insurance claims made, or losses suffered, by Owner Trustee in its individual capacity or by Owner Participant, that are payable directly to Owner Trustee in its individual capacity, or Owner Participant, respectively, for their own account, (iii) proceeds of insurance maintained with respect to the Aircraft by Owner Participant or any Affiliate thereof for its or their own account or benefit (whether directly or through Owner Trustee) and permitted under Section 11.2 of the Lease, (iv) all payments required to be made under the Tax Indemnity Agreement by Lessee whether or not denominated as Supplemental Rent, (v) any Transaction Expenses paid or payable by the Lessee to the Owner Trustee (to the extent for its sole benefit) or the Owner Participant pursuant to the Lease or the Participation Agreement, (vi) any amount payable to the Owner Participant by any transferee as the purchase price of the Owner Participant's interest in the Trust Estate, (vii) any interest that pursuant to the Operative Agreements may from time to time accrue in respect of any of the amounts described in clauses (i) through (vi) above, (viii) any right to enforce the payment of any amount described in clauses (i) through (vii) above (PROVIDED, that the rights referred to in this clause (viii) shall not be deemed to include the exercise of any remedies provided for in the Lease other than the right to xxx for specific performance of any covenant to make such payment or to xxx for damages in respect of the breach of any such covenant) and (ix) any right to exercise any election or option or make any decision or determination, or to give or receive any notice, consent, waiver or approval, or to take any other action in respect of, but in each case, only to the extent relating to, any Excluded Payments.

  • Transaction Expenses means any fees or expenses incurred or paid by Holdings or any of its Subsidiaries in connection with the Transaction, this Agreement and the other Loan Documents and the transactions contemplated hereby and thereby.

  • Prohibited Payment means any bribe, rebate, payoff, influence payment, kickback or other payment or gift of money or anything of value (including meals or entertainment) to any officer, employee or ceremonial office holder of any government or instrumentality thereof, political party or supra-national organization (such as the United Nations), any political candidate, any royal family member or any other person who is connected or associated personally with any of the foregoing that is prohibited under any Law for the purpose of influencing any act or decision of such payee in his official capacity, inducing such payee to do or omit to do any act in violation of his lawful duty, securing any improper advantage or inducing such payee to use his influence with a government or instrumentality thereof to affect or influence any act or decision of such government or instrumentality.

  • Estimated Closing Indebtedness has the meaning set forth in Section 2.4(a).

  • Deferred Payments means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any other severance payments or separation benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries), that in each case, when considered together, are considered deferred compensation under Section 409A.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Total Required Payment means, for a Payment Date, the sum of

  • Estimated Transaction Expenses has the meaning set forth in Section 2.3(a).

  • Liquidity Expenses means all Liquidity Obligations other than (i) the principal amount of any Drawings under the Liquidity Facilities and (ii) any interest accrued on any Liquidity Obligations.

  • Permitted Capital Expenditures has the meaning given that term in Section 9.12(b).

  • Consolidated Capital Expenditures means, for any period, the aggregate of all expenditures of Company and its Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment or similar items”, or that should otherwise be capitalized, as reflected in the consolidated statement of cash flows of Company and its Subsidiaries.