Actual Statement. By the first day of April of each succeeding calendar year during the Term of this Lease, Landlord shall endeavor to deliver to Tenant a statement (“Actual Statement”) of the actual Expenses for the immediately preceding calendar year. If the Actual Statement reveals that the amount of estimated Expenses for the previous year were over-paid or under-paid, then within thirty (30) days after delivery of the Actual Statement, Tenant shall pay to Landlord the amount of any such under-payment, or, Landlord shall credit Tenant against future Expenses the amount of such over-payment (or if the Term has expired and no further Expenses are due, refund such overpayment to Tenant), as the case may be. Such obligation to pay the under-payment or to refund the overpayment will survive the expiration or earlier termination of this Lease. Prior to the expiration or sooner termination of the Term and Landlord’s acceptance of Tenant’s surrender of the Premises, Landlord will have the right to estimate the actual Expenses for the then current calendar year to the end of the Term, and will have the right to collect from Tenant prior to Tenant’s surrender of the Premises, Tenant’s Percentage Share of any excess of such actual Expenses over the estimated Expenses paid by Tenant in such calendar year. Not more often than once each calendar year, Tenant, upon thirty (30) days advance written notice thereof to Landlord, at Tenant’s sole cost and expense, may, (i) retain an independent Certified Public Accountant reasonably acceptable to Landlord and who does not perform the audit services on a contingent fee basis, or (ii) utilize an employee of Tenant, to review and audit Landlord’s books and records with regard to the Expenses. If it is reasonably determined by such auditors that Tenant overpaid its share of any Expenses, Landlord shall refund to Tenant the amount of such overpayment within thirty (30) days. If it is reasonably determined by such auditors that Tenant underpaid its share of any Expenses, Tenant shall pay to Landlord the amount of such deficiency within thirty (30) days. If it is reasonably determined by such auditors that Tenant overpaid its share of any Expenses by more than five percent (5%), Landlord shall reimburse Tenant for the reasonable costs of Tenant’s audit.
Actual Statement. By March 1st of each calendar year during the Term of this Lease, Landlord will also endeavor to deliver to Tenant a statement ("Actual Statement") which states Tenant's Share of the actual Operating Expenses for the preceding calendar year. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is more than the total Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Tenant agrees to pay Landlord the difference in a lump sum within ten (10) days of receipt of the Actual Statement. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is less than the Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Landlord will credit any overpayment toward the next monthly installment(s) of Tenant's Share of the Operating Expenses due under this Lease.
Actual Statement. By March 1st of each calendar year during the Term of this Lease, Landlord will also endeavor to deliver to Tenant a statement ("ACTUAL STATEMENT") which states Tenant's Share of the actual Operating Expenses for the preceding calendar year. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is more than the total Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Tenant agrees to pay Landlord the difference in a lump sum within ten (10) days of receipt of the Actual Statement. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is less than the Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Landlord will credit any overpayment toward the next monthly installment(s) of Tenant's Share of the Operating Expenses due under this Lease. Such obligation will be a continuing one which will survive the expiration or earlier termination of this Lease. Prior to the expiration or sooner termination of the Lease Term and Landlord's acceptance of Tenant's surrender of the Premises, Landlord will have the right to estimate the actual Operating Expenses for the then current Lease Year and to collect from Tenant prior to Tenant's surrender of the Premises, Tenant's Percentage of any excess of such actual Operating Expenses over the estimated Operating Expenses paid by Tenant in such Lease Year.
Actual Statement. By March 1st of each calendar year during the Term of this Lease (commencing March 1 in the calendar year following the base year for Operating Expenses, if applicable), Landlord will also endeavor to deliver to Tenant a statement ("Actual Statement") which states the actual Operating Expenses for the preceding calendar year. If the Actual Statement reveals that Tenant's Percentage of the actual Operating Expenses is more than the total Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Tenant agrees to pay Landlord the difference in a lump sum within ten (10) days of receipt of the Actual Statement. If the Actual Statement reveals that Tenant's Percentage of the actual Operating Expenses is less than the Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Landlord will credit any overpayment toward the next monthly installment(s) of Tenant's Percentage of the Operating Expenses due under this Lease.
Actual Statement. By the first day of April of each succeeding calendar year during the Term of this Lease, Landlord shall endeavor to deliver to Tenant a statement ("Actual Statement") of the actual Operating Expenses and Excess Expenses for the immediately preceding calendar year. If the Actual Statement reveals that Excess expenses were overstated or understated in any Estimate Statement (or revised Estimate Statement) previously delivered by Landlord pursuant to Subparagraph 6.5 above, then within thirty (30) days after delivery of the Actual Statement, Tenant shall pay to Landlord the amount of any such underpayment, or Landlord shall pay to tenant (or credit against the next monthly rent falling due, the amount of such overpayment, as the case may be.
Actual Statement. By March 1st of each calendar year during the Term of this Lease, Master Lessor will also endeavor to deliver to Master Lessee a statement (“Actual Statement”) which states Master Lessee’s Share of the actual Common Area Expenses for the preceding calendar year. If the Actual Statement reveals that Master Lessee’s Share of the actual Common Area Expenses is more than the total Additional Rent paid by Master Lessee for Common Area Expenses on account of the preceding calendar year, Master Lessee agrees to pay Master Lessor the difference in a lump sum within ten (10) days of receipt of the Actual Statement. If the Actual Statement reveals that Master Lessee’s Share of the actual Common Area Expenses is less than the Additional Rent paid by Master Lessee for Common Area Expenses on account of the preceding calendar year, Master Lessor will credit any overpayment toward the next monthly installment(s) of Master Lessee’s Share of the Common Area Expenses due under this Lease.
Actual Statement. By the first day of April of each succeeding calendar year during the Term of this Lease, Landlord shall endeavor to deliver to Tenant a substantially detailed statement ("Actual Statement") of the actual Operating Expenses and Excess Expenses for the immediately preceding calendar year. Landlord shall show by account the total Operating Expenses including detailed Excess Expense for the Building/Project and all adjustments corresponding to the requirements as set forth herein. Landlord shall provide in reasonable detail its calculation of Tenant's prorata share of Building/Project Operating Expenses, including Landlord's computation setting forth the ratio of the Premises rentable square feet to the Building/Project rentable square feet stated in 1.14(a) and (b). If the Actual Statement reveals that Excess Expenses were overstated or understated in any Estimate Statement (or revised Estimate Statement) previously delivered by Landlord pursuant to Subparagraph 6.5 above, then within thirty (30) days after delivery of the Actual Statement, Tenant shall pay to Landlord the amount of any such underpayment, or, Landlord shall pay to Tenant (or credit against the next monthly rent falling due), the amount of such overpayment, as the case may be.
Actual Statement. By the first day of April of each succeeding calendar year during the Term of this Lease or as soon thereafter as reasonably possible, Landlord shall deliver to Tenant a statement (“Actual Statement”) of the actual Operating Expenses and Excess Expenses for the immediately preceding calendar year. If the Actual Statement reveals that Excess Expenses were over-stated or under-stated in any Estimate Statement (or revised Estimate Statement) previously delivered by Landlord pursuant to Section 4.6 above, then within thirty (30) days after delivery of the Actual Statement, Tenant shall pay to Landlord the amount of any such under-payment, or, Landlord shall credit Tenant against the next monthly rent falling due (or pay to Tenant in the event such reconciliation takes place after the expiration of this Lease), the amount of such over-payment, as the case may be. Such obligation will be a continuing one which will survive the expiration or earlier termination of this Lease.
Actual Statement. By March 1st of each calendar year during the Term of this Lease, Landlord will also endeavor to deliver to Tenant a statement ("Actual Statement") which states Tenant's Share of the actual increase in real property taxes and assessments and Landlord's insurance premiums paid for the preceding calendar year over the real property taxes and assessments and Landlord's insurance premiums paid for the Base Year. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is/are more than the estimated increases paid by Tenant for the preceding calendar year, Tenant shall pay the difference to Landlord in a lump sum within ten (10) days after receipt of the Actual Statement. If the Actual Statement reveals that the actual increase in real property taxes and assessments and/or Landlord's insurance premiums is less than the estimated increases paid by Tenant for the preceding calendar year, Landlord will credit any overpayment toward the next monthly installment(s) of estimated increases due under this Lease.
Actual Statement. By July 1st of each calendar year during the Term of this Lease, Landlord shall deliver to Tenant a statement ("ACTUAL STATEMENT") which states in reasonable detail (i) the total Operating Expenses for the preceding year (by account) and all adjustments thereto; and (ii) Landlord's calculation of Tenant's Share of the actual Operating Expenses for the preceding calendar year. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is more than the total Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Tenant agrees to pay Landlord the difference in a lump sum within thirty (30) days of receipt of the Actual Statement; provided, however, if the amount of such difference is in excess of Fifteen Thousand Dollars ($15,000.00), Tenant shall have the right to pay the same in equal installments over a six (6) month period rather than in a single lump sum. If the Actual Statement reveals that Tenant's Share of the actual Operating Expenses is less than the Additional Rent paid by Tenant for Operating Expenses on account of the preceding calendar year, Landlord will credit any overpayment toward the next monthly installment(s) of Tenant's Share of the Operating Expenses due under this Lease or reimburse such amount to Tenant within thirty (30) days of the expiration or earlier termination of this Lease. Such obligation will be a continuing one which will survive the expiration or earlier termination of this Lease.
