Common use of Final Statement Clause in Contracts

Final Statement. Following the end of each Comparison Year, Sublandlord shall furnish to Subtenant a final statement of actual Costs of Operation and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I of each Comparison Year (after the first Comparison Year). Within thirty (30) days of presentation of the final statement for any Comparison Year, Subtenant shall pay Sublandlord, as Additional Charges, any amount due for Subtenant's Share of Taxes and Costs of Operation. Any credit due Subtenant for overpayment of Subtenant's Share of Taxes and Costs of Operation shall be credited against the monthly installments of Basic Rent next coming due (except that Sublandlord shall refund to Subtenant the amount of any such credit for the final Comparison Year in the Sublease Term to the extent that no amounts are then owing by Subtenant hereunder). Subtenant shall have 120 days after presentation of Sublandlord's statement of actual Taxes and Costs of Operation within which to object or question in writing to the accuracy of the statement in accordance with the terms of subsection (e) below; unless Subtenant so objects within said 120-day period, Sublandlord's statement shall be conclusive and binding on Subtenant. Objection by Subtenant shall not excuse or xxxxx Subtenant's obligation to make the payments required by this Section 4.2 pending resolution of Subtenant's objection.

Final Statement. Following As soon as reasonably practicable after the end of each Comparison Year, Sublandlord Landlord shall furnish to Subtenant present Tenant with a final statement of actual Costs of Operation Operating Expenses, Insurance and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I of each Comparison Year (after the first Comparison Year"Final Statement"). Within thirty (30) days of presentation of the final statement for any Comparison Yearstatement, Subtenant Tenant shall pay SublandlordLandlord, as Additional Charges, any amount due for SubtenantTenant's Share of Insurance and Taxes and Costs Tenant's Share of OperationOperating Expenses subject to the limitations set forth in Section 5.2. Any credit due Subtenant Tenant for overpayment of SubtenantTenant's Share of Insurance and Taxes and Costs or Tenant's Share of Operation Operating Expenses shall be credited against the monthly installments of Basic Rent Tenant's Share of Operating Expenses or Tenant's Share of Insurance and Taxes next coming due (except that Sublandlord Landlord shall refund to Subtenant Tenant the amount of any such credit for the final Comparison Year in the Sublease Term to the extent that no amounts are then owing by Subtenant hereunderLease Term). Subtenant Tenant shall have 120 thirty (30) days after presentation of SublandlordLandlord's final statement of actual Insurance, Taxes and Costs of Operation Operating Expenses within which to object or question in writing to the accuracy of the statement statement; and shall be entitled to receive reasonable documentation and information relating to the sums set forth in accordance with the terms statement. Upon expiration of subsection said thirty (e30) below; unless Subtenant so objects within said 120-day period, SublandlordLandlord's statement shall be conclusive and binding on SubtenantTenant, provided Tenant has not objected to such statement. Objection by Subtenant Tenant shall not excuse or xxxxx Subtenantabatx Xxxant's obligation to make the payments required by this Section 4.2 paragraph pending resolution of SubtenantTenant's objection. In the event Landlord and Tenant cannot resolve Tenant's objection within thirty (30) days of receipt of notice by Landlord of Tenant's objection, and Tenant is not in default under any provision of the Lease, they shall each appoint an arbitrator, both of whom shall select a third arbitrator. The decision of the arbitrators shall be made within thirty (30) days of such appointment and shall be final, and shall be pursuant to the then existing rules of the American Arbitration Association. It shall be a condition precedent to arbitration that Tenant have paid the total charges for Tenant's share of Operating Expenses, Taxes and Insurance appearing on Landlord's statement. The party ruled in error by the arbitration shall bear the total costs associated with the arbitration. In the event that the difference between the amount of Operating Expenses, Taxes and Insurance set forth on the Final Statement and the actual amount of Operating Expenses, Taxes and Insurance is less than five percent (5%) of the Final Statement, then Tenant shall bear its own and Landlord's costs of the arbitration.

Final Statement. Following After the end of each Comparison Year, Sublandlord shall furnish to Subtenant a final statement of actual Costs of Operation the Base Year and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I of each Comparison Year (after including the first Comparison Year in which the Lease Term terminates), Landlord shall deliver to Tenant a final statement (“Landlord’s Final Statement’“) showing a reasonably detailed line item description of Tenant’s Share of the annual actual Excess Direct Expenses for the prior calendar year. Landlord shall diligently endeavor to deliver to Tenant the Landlord’s Statement for each Comparison Year and the Base Year on or before May 31st of the succeeding year. If Tenant’s Share of the amount of actual Excess Direct Expenses due for a Comparison Year exceeds any amounts paid by Tenant as estimated additional rent under this Article 7 for such Comparison Year). Within , within thirty (30) days of presentation delivery of such Landlord’s Statement, Tenant shall pay Landlord the amount of such excess over the estimated payments already made by Tenant. If the Tenant’s Share of the final statement amount of actual Excess Direct Expenses due for a Comparison Year is less than any amounts paid by Tenant as estimated additional rent for such Comparison Year, Subtenant shall pay Sublandlord, as Additional Charges, any the amount due for Subtenant's Share of Taxes and Costs of Operation. Any credit due Subtenant for such overpayment of Subtenant's Share of Taxes and Costs of Operation shall be credited against the monthly installments of Basic Monthly Rent next coming due (except immediately following preparation of Landlord’s reconciliation of actual and Estimated Excess Direct Expenses); provided, however that Sublandlord shall refund to Subtenant the amount of any such credit overpayments for the final Comparison Year in which the Sublease Lease Term terminates shall be paid by Landlord to the extent that no amounts are then owing by Subtenant hereunder). Subtenant shall have 120 Tenant within thirty (30) days after presentation of Sublandlord's statement of actual Taxes and Costs of Operation within which to object or question in writing to the accuracy delivery of the statement in accordance with the terms of subsection (e) below; unless Subtenant so objects within said 120-day period, Sublandlord's statement shall be conclusive and binding on SubtenantLandlord’s Statement. Objection Objections by Subtenant Tenant shall not excuse or xxxxx Subtenant's Tenant’s obligation to make the payments required by under this Section 4.2 7.5 (or under Section 7.4) pending the resolution of Subtenant's Tenant’s objection.

Final Statement. Following As soon as practicable after the end of each Comparison Year (but in no event later than April 30 following the end of such Comparison Year), Sublandlord Landlord shall furnish to Subtenant present Tenant with a final statement of actual Costs of Operation Operating Expenses and Taxes for that Comparison Year. Sublandlord shall endeavor to furnish said statement to Subtenant by April I Year and Landlord’s calculation of each Comparison Year (after the first Operating Expenses-Adjustment for that Comparison Year). Within thirty (30) days of presentation of the final statement for any Comparison Yearstatement, Subtenant Tenant shall pay SublandlordLandlord, as Additional Charges, any amount due for Subtenant's Tenant’s Share of Taxes and Costs of OperationOperating Expenses. Any credit due Subtenant Tenant for overpayment of Subtenant's Tenant’s Share of Taxes and Costs of Operation or Operating Expenses shall be credited against the monthly installments of Basic Annual Base Rent next coming due (except that Sublandlord Landlord shall refund to Subtenant Tenant the amount of any such credit for the final Comparison Year in the Sublease Lease Term which amount shall be paid to Tenant within thirty (30) days following the extent that no amounts are then owing by Subtenant hereunderexpiration of the Term or any applicable Renewal Term). Subtenant Tenant shall have 120 ninety (90) days after presentation of Sublandlord's Landlord’s final statement of actual Taxes and Costs of Operation Operating Expenses within which to object or question in writing to the accuracy of the statement in accordance with the terms statement; after expiration of subsection said ninety (e90) below; unless Subtenant so objects within said 120-day period, Sublandlord's Landlord’s statement shall be conclusive and binding on SubtenantTenant. Objection by Subtenant Tenant shall not excuse or xxxxx Subtenant's Tenant’s obligation to make the payments required by this Section 4.2 paragraph pending resolution of Subtenant's to Tenant’s objection.