Examples of Projection Notice in a sentence
Within fifteen (15) days following Landlord's service of a Projection Notice, Tenant shall also pay Landlord a lump sum equal to the Additional Rent Progress Payment shown in the Projection Notice less (1) any previous payments on account of Additional Rent Progress Payment made during such Adjustment Year and (2) monthly installments on account of Additional Rent Progress Payment due for the remainder of such Adjustment Year.
Until such time as Landlord furnishes a Projection Notice for an Adjustment Year, Tenant shall continue to pay monthly installments of Rent Adjustment Deposits in the amount shown by the most recent Projection Notice or, if the Tax, Expense and Utility Expense Adjustment for the Adjustment Year covered by such Projection Notice has been determined, one twelfth (1/12) of such Tax, Expense and Utility Expense Adjustment.
On such date, and on or before the first day of each calendar month thereafter of the Adjustment Year covered by such Projection Notice, Tenant shall pay to Landlord one twelfth 1/12 of the Rent Adjustment Deposits shown in the Projection Notice.
On or before the first day of the next calendar month following Landlord's service of a Projection Notice, and on or before the first day of each month thereafter, Tenant shall pay to Landlord one-twelfth (1/12) of the Additional Rent Progress Payments shown in the Projection Notice.
Until Landlord furnishes a Projection Notice for such calendar year, Tenant shall pay to Landlord Progress Payments (at the time of and together with each monthly installment of Base Rent) equal to the greater of the latest monthly installment of Progress Payments or one-twelfth (1/12th) of the sum of the latest actual Combined Expense and Tax Adjustment as determined by Landlord.
Within fifteen (15) days following Landlord’s delivery of a Projection Notice for an Adjustment Year in progress, Tenant also shall pay Landlord a lump sum equal to the Rent Adjustment Deposits shown in ‘the Projection Notice less the sum of (A) any previous payments on account of Rent Adjustment Deposits made with respect to such Adjustment Year and (B) monthly installments on account of Rent Adjustment Deposits due for the remainder of such Adjustment Year.
Landlord may furnish to Tenant prior to such calendar year and from time to time during such calendar year a written notice (a "Projection Notice") setting forth (i) Landlord's reasonable estimates, forecasts or projections of Taxes and Expenses for such calendar year, (ii) the Combined Expense and Tax Adjustment for such calendar year based upon such projections, and (iii) the monthly Progress Payments to be made by Tenant for such year based upon such projected Combined Expense and Tax Adjustment.
On such date, and on or before the first day of each calendar month thereafter of the Adjustment Year covered by such Projection Notice, Tenant shall pay to Landlord one-twelfth (1/12) of the Rent Adjustment Deposits shown in the Projection Notice.
On or before the first day of the month immediately following service of a Projection Notice, and on or before the first day of each following month until Tenant receives a further Projection Notice, Tenant shall pay to Landlord the monthly installment of Progress Payments shown in the Projection Notice.
Within thirty (30) days following service of a Projection Notice, Tenant shall also pay to Landlord a lump sum payment equal to the Progress Payments owing by Tenant to Landlord (as shown in the Projection Notice) for the period commencing on the first day of such calendar year and expiring on the last day of the month during which such Projection Notice is served, less all Progress Payments previously paid by Tenant to Landlord for such calendar year.