Common use of Additional Rent for Estimated Increases in Operating Costs Clause in Contracts

Additional Rent for Estimated Increases in Operating Costs. (i) On or before the first (1st) day of March of each Lease Year after the Base Service Year, during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Operating Costs Allocable to the Premises for such Lease Year, and a calculation of the Additional Rent for such costs as follows: one-twelfth (1/12) of the amount, if any, by which such amount exceeds the Operating Costs Allocable to the Premises for the Base Service Year shall be Additional Rent payable each month by Tenant as provided in Section 4. Any shortfall for elapsed portion of the Lease Year in question shall be made up with the next monthly payment. Landlord reserves the right to adjust this estimate from time to time.

Additional Rent for Estimated Increases in Operating Costs. (i) On or before the first (1st) day of March of each Lease Year after the Base Service Year, during the term hereof, Landlord shall furnish Tenant a written statement of the Estimated Operating Costs Allocable to the Premises for such Lease Year, and a calculation of the Additional Rent for such costs as follows: one-twelfth 11 (1/12) of the amount, if any, by which such amount exceeds the Operating Costs Allocable to the Premises for the Base Service Year shall be Additional Rent payable each month by Tenant as provided in Section 4. Any shortfall for elapsed portion of the Lease Year in question shall be made up with the next monthly payment. Landlord reserves the right to adjust this estimate from time to time.