Examples of Operational Year in a sentence

As soon as practicable after the end of each Operational Year, Landlord will submit to Tenant a written statement showing the actual Operating Costs for that Operational Year, Tenant's share of actual Operating Costs, Tenant's actual Rental Adjustments, and the difference between Tenant's actual Rental Adjustments and the amount of estimated Rental Adjustments paid by Tenant.
If this Lease commences or terminates on a day other than the first day of an Operational Year, Tenant will be charged only for Rental Adjustments for the portion of the Operational Year that falls within the Lease Term.
If the Tenant's actual Rental Adjustments is less than the amount of estimated Rental Adjustments paid for that Operational Year, the amount will be credited against the next monthly Rent payment(s) due Landlord from Tenant.
Prior to the commencement of each full or partial Operational Year during the Term of this Lease, Landlord will deliver to Tenant a written estimate in reasonable detail of Operating Costs and Tenant's estimated Rental Adjustment for the year.
If the Tenant's actual Rental Adjustments exceeds the amount of Rental Adjustments paid by Tenant for that Operational Year, Tenant will pay to Landlord within 30 days of receipt of the written statement, the full amount of the excess.

More Definitions of Operational Year

Operational Year means all or any portion of any calendar year during which this Lease is in effect.

Operational Year means the period of 12 months beginning with the 1st day of October and ending with 30th September of the following calendar year.

Operational Year means July 1 to June 30 of each year during the Term of this Agreement.

Operational Year means each calendar year after calendar 2013.

Operational Year means each calendar year during the Term commencing with 1999.