Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 3 contracts
Sources: Lease Agreement (Manhattan Associates Inc), Lease Agreement (TSW International Inc), Lease Agreement (Indus International)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. Landlord's current estimate of Tenant's Forecast Additional Rental for the first calendar year or partial calendar year of this Lease is $4.50 per Rentable Square Foot per annum. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc), Temporary Lease Agreement (Wells Real Estate Investment Trust Inc)
Additional Rental. (a) For purposes of this Lease, "“Tenant's ’s Forecast Additional Rental" shall mean ” means Landlord's ’s reasonable estimate of Tenant's Additional ’s Operating Expense Rental for the coming initial period of the Lease Term from the Lease Commencement Date until the end of the first calendar year of the Lease Term, and for all subsequent calendar years or portion thereofportions thereof occurring during the balance of the Lease Term. If at any time it reasonably appears to Landlord that Tenant's Additional ▇▇▇▇▇▇’s Operating Expense Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%)’s estimate, Landlord shall have the right to revise, by notice to Tenant, reasonably revise its estimate for such year, year by notice to Tenant and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rentalestimate. Failure to make such a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's ’s right to collect the full amount of Tenant's Additional ’s Operating Expense Rental. Prior to the Rental Lease Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's ’s Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidyear, Tenant ▇▇▇▇▇▇ shall continue to pay during the next ensuing calendar year on the same basis of as in the amount of Tenant's Forecast Additional Rental payable during the prior calendar year just ended until the month after such statement is delivered to Tenant. Commencing with the first day of the calendar month following the month in which the Tenant’s Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant’s Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the first day of each month.
Appears in 2 contracts
Sources: Lease Agreement (Heartflow, Inc.), Lease Agreement (Heartflow, Inc.)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for Commencing with the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for in which the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date occurs and continuing thereafter prior to the beginning of for each calendar year during the Lease Term, including any extensions thereoffull term of this Lease, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any said calendar year as aforesaid(or for the calendar year in which the Lease term commences, on the Commencement Date) a statement of Tenant’s Forecast Additional Rental. Landlord’s failure to deliver such a statement of Tenant’s Forecast Additional Rental shall not operate to excuse Tenant from the payment of the monthly installment of Tenant’s Forecast Additional Rental due under Section 2.1(a). Rather, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount monthly installment of Tenant's ’s Forecast Additional Rental payable during the calendar year just ended based on Landlord’s most recent calculation thereof until the month after such a statement is delivered to Tenant, with such statement being applied retroactively to the beginning of the calendar year and Tenant making up any under payments immediately upon its receipt of such statement. Landlord may, from time to time, recalculate Tenant’s Forecast Additional Rental in order to more accurately reflect Landlord’s good faith estimate of Tenant’s Additional Rental, and Tenant shall commence paying the recalculated Tenant’s Forecast Additional Rental, in accordance with Section 2.1(a) hereof, immediately after receiving notice thereof.
(b) As used herein, “Tenant’s Forecast Additional Rental” shall mean Landlord’s reasonable estimate of Tenant’s Additional Rental (defined below) for the coming calendar year (or, in the calendar year in which the lease term commences, for such calendar year).
Appears in 2 contracts
Sources: Office Lease Agreement (Cumberland Pharmaceuticals Inc), Office Lease Agreement (Cumberland Pharmaceuticals Inc)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming each calendar year or portion thereofthereof during the Lease Term. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year then at hand will vary from Landlord's estimate by more than five percent (5%)estimate, Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. "Prior to the Rental Commencement Date Date, and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions or renewals thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant."
(b) For purposes of this Lease, "Tenant's Additional Rental" shall mean for each calendar year (or portion thereof) during the Lease Term the excess of (x) the Operating Expense Amount (defined below) multiplied by the number of square feet of Rentable Floor Area of the Demised Premises, over (y) the Operating Expense Stop (as hereinafter defined). As used herein, "Operating Expense Amount" shall mean an amount equal to the amount of Operating Expenses (as defined below) for such calendar year divided by the greater of (i) ninety-five percent (95%) of the number of square feet of Rentable Floor Area of the Building, or (ii) the total number of square feet of Rentable Floor Area occupied in the Building for such calendar year on an average annualized basis; provided, however, if the amount is calculated under (i) above, the Operating Expenses actually incurred with respect to such calendar year shall be adjusted to reflect the amount of Operating Expenses which would have been incurred if the Building were ninety-five percent (95%) occupied throughout such calendar year. As used herein, "Operating Expense Stop" shall be determined by calculating the Operating Expenses during the first twelve (12) months following the Rental Commencement Date for Suite 400.
Appears in 2 contracts
Sources: Lease Agreement (Healtheon Corp), Lease Agreement (Healtheon Corp)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord Landlord, in Landlord's reasonable judgment, that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by written notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Profit Recovery Group International Inc), Lease Agreement (Profit Recovery Group International Inc)
Additional Rental. (a) Subject to the terms of this Article 8, from and after the Rental Commencement Date, Tenant shall pay to Landlord "Tenant's Forecast Additional Rental (as defined in subparagraph (b) below) and "Tenant's Additional Rental" (as defined in subparagraph (c) below). Payment of Tenant's Forecast Additional Rental shall be made as set forth in Article 5(a).
(b) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming next occurring calendar year or portion thereof. If at any time it appears to Landlord reasonably determines that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right (which right may be exercised no more than one time per year) to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Premiere Global Services, Inc.), Lease Agreement (Premiere Global Services, Inc.)
Additional Rental. (a) Subject to the terms of this Lease, from and after the Commencement Date, Tenant shall pay to Landlord “Tenant’s Forecast Additional Rental” (as defined below) and “Tenant’s Additional Rental” (as defined below). Payment of Tenant’s Forecast Additional Rental shall be made in monthly installments pursuant to Landlord’s statement thereof (as contemplated below) and as set forth in Article 5.
(b) For purposes of this Lease, "“Tenant's ’s Forecast Additional Rental" ” shall mean Landlord's ’s reasonable estimate of Tenant's ’s Additional Rental for the coming next occurring calendar year or portion thereof. If at any time it appears to Landlord that Tenant's T▇▇▇▇▇’s Additional Rental for the current calendar year will vary from Landlord's ’s estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's ’s Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's ’s right to collect the full amount of Tenant's ’s Additional Rental. Prior to the Rental Commencement Date and periodically thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's ’s Forecast Additional Rental for such the applicable calendar yearyear during the Lease Term; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's ’s Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 2 contracts
Sources: Lease Agreement (Compass Sub North, Inc.), Lease Agreement (Compass Sub North, Inc.)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for Commencing with the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for in which the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date occurs and continuing thereafter prior to the beginning of for each calendar year during the Lease Term, including any extensions thereoffull term of this Lease, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any said calendar year as aforesaid(or for the calendar year in which the Lease term commences, on the Commencement Date) a statement of Tenant’s Forecast Additional Rental. Landlord’s failure to deliver such a statement of Tenant’s Forecast Additional Rental shall not operate to excuse Tenant from the payment of the monthly installment of Tenant’s Forecast Additional Rental due under Section 2.01(a). Rather, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount monthly installment of Tenant's ’s Forecast Additional Rental payable during the calendar year just ended based on Landlord’s most recent calculation thereof until the month after such a statement is delivered to Tenant, with such statement being applied retroactively to the beginning of the calendar year and Tenant making up any under payments immediately upon its receipt of such statement. Landlord may, from time to time, but not more than two (2) times per year, recalculate Tenant’s Forecast Additional Rental in order to more accurately reflect Landlord’s good faith estimate of Tenant’s Additional Rental, and Tenant shall commence paying the recalculated Tenant’s Forecast Additional Rental, in accordance with Section 2.01(a) hereof, immediately after receiving notice thereof.
(b) As used herein, “Tenant’s Forecast Additional Rental” shall mean Landlord’s reasonable estimate of Tenant’s Additional Rental (defined below) for the coming calendar year (or, in the calendar year in which the lease term commences, for such calendar year).
Appears in 1 contract
Sources: Sublease Agreement (Cumberland Pharmaceuticals Inc)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming each calendar year or portion thereofthereof during the Lease Term. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year then at hand will vary from Landlord's estimate by more than five percent (5%)estimate, Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date first day of January immediately following the expiration of the Base Year, and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions or renewals thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean means Landlord's reasonable estimate of Tenant's Additional Rental Rental, including payment of Landlord's Operating Expenses as defined in Section 7 for the coming initial period of the Lease Term from the Rent Commencement Date until the end of the first calendar year of the Lease Term, and all subsequent calendar years or portion thereofportions thereof occurring during the balance of the Lease Term. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than plus or minus five percent (5%)) from Landlord's estimate, Landlord shall have the right to revise, by notice to Tenant, revise its estimate for such year, year by notice to Tenant and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rentalestimate. Failure to make such a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior Forty-five (45) days) prior to the Rental Rent Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidyear, Tenant shall continue to pay during the next ensuing calendar year on the same basis of as in the amount of Tenant's Forecast Additional Rental payable during the prior calendar year just ended until the month after such statement is delivered to Tenant. Commencing with the first day of the calendar month following the month in which the Tenant's Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant's Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the first day of each month.
Appears in 1 contract
Sources: Lease Agreement (Razorfish Inc)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it reasonably appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five ten percent (510%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning on or before November 1 of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning on or before November 1 of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant. For purposes of determining Tenant's Forecast Additional Rental the calendar year within which the Rental Commencement Date occurs, the estimated Operating Expenses for such calendar year shall be deemed to be $5.00 per square foot multiplied by the number of square feet of Rentable Floor Area of the Building.
Appears in 1 contract
Sources: Lease Agreement (Wells Real Estate Investment Trust Inc)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right right, one (1) time per calendar year, to revise, by upon at least thirty (30) days prior notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the first month which is at least thirty (30) days after such statement is delivered to Tenant.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming each calendar year or portion thereofthereof during the Lease Term starting with calendar year 2000. If at any time it appears to Landlord that Tenant's Additional Rental for the current any calendar year following calendar year 2000 will vary from Landlord's estimate by more than five percent (5%)estimate, Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date first day of January, 2000, and thereafter prior to the beginning of each subsequent calendar year during the Lease Term, including any extensions or renewals thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it reasonably appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five ten percent (510%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning on or before November 1 of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning on or before November 1 of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant. For purposes of determining Tenant's Forecast Additional Rental the calendar year within which the Rental Commencement Date occurs, the estimated Operating Expenses for such calendar year shall be deemed to be $4.50 per square foot multiplied by 83,885 square feet of Rentable Floor Area of the Building.
Appears in 1 contract
Additional Rental. In addition to the Base Rental required to be paid by Tenant to Landlord pursuant to the provisions hereof, Tenant shall also pay Landlord Additional Rental during the Lease Term and any extensions or renewals thereof, at Landlord’s address provided herein (or at such other address as may be designated by Landlord in writing from time to time), and without any demand, setoff or deduction whatsoever, calculated and payable in accordance with the following provisions:
(a) For purposes of this Lease, "Tenant's Forecast Landlord may collect such Additional Rental" , or any portion thereof, monthly, in advance, based upon an estimate, and/or in arrears on a yearly basis. In the event Landlord elects to collect the Additional Rental or any portion thereof in arrears, Tenant shall mean pay such Additional Rental within thirty (30) days after the date Tenant receives a statement from Landlord's reasonable . Landlord shall also have the option to make an estimate of Tenant's the Additional Rental for the coming each upcoming calendar year year, or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for thereof in the current event of a partial calendar year will vary from Landlord's estimate by more than five percent (5%)year, Landlord shall have the right to revise, by and upon written notice to Tenant, its estimate for such year, and subsequent payments by may require that Tenant for such year shall be pay Landlord Additional Rental based upon such revised estimates at the same time and on the same date that the monthly installments of Base Rental are due hereunder, in which event, Tenant will begin paying the Additional Rental with the next installment of Base Rental due after receipt of Landlord’s notice, and will continue paying such increase until Landlord revises Landlord’s estimate. In the event that Landlord delivers notice of the estimate to Tenant for any calendar year after the particular calendar year has already commenced, then Landlord shall also be entitled to require Tenant to pay concurrently with the next installment of Base Rental due under the Lease the amount by which (i) the product of one-twelfth (1/12th) of the amount of the estimated Additional Rental for such calendar year times the number of calendar months in such year which have already wholly or partially expired, exceeds (ii) the Additional Rental which has previously been paid by Tenant with respect to such calendar year. At any time and from time to time during the Lease Term, Landlord will have the right by written notice to Tenant (which notice shall include an explanation as to the justification for such adjustment), to change the amount of the monthly Additional Rental payable by Tenant hereunder to reflect more accurately, in the reasonable judgment of Landlord, any change in Landlord’s estimate of Tenant's the actual Additional Rental, such change to be effective with the next installment of Base Rental due after receipt by Tenant of Landlord’s written notice. Failure Any amounts paid based on Landlord’s estimate of the Additional Rental shall be subject to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right adjustment pursuant to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date Section 3.3(b) hereof when actual Basic Costs and thereafter prior to the beginning Energy Costs are available for each calendar year.
(b) By April 1 of each calendar year during the Lease TermTenant’s occupancy, including any extensions thereofor as soon thereafter as is reasonably practical, Landlord shall present furnish to Tenant a statement of Tenant's Forecast Landlord’s calculation of Additional Rental for such the previous calendar year; provided, however, that if such statement is not given prior to the beginning of . If for any calendar year Additional Rental collected for the prior year, as aforesaida result of Landlord’s estimate of Basic Costs or Energy Costs, is in excess of the Additional Rental actually due during such prior year, then Landlord shall refund to Tenant any overpayment within thirty (30) days following the date Landlord delivers such statement to Tenant. Likewise, subject to Tenant’s rights under Section 3.3(c) below, Tenant shall pay to Landlord, within thirty (30) days following receipt of such statement, any underpayment of Additional Rental with respect to the prior year.
(c) Tenant, at its expense, shall have the right no more frequently than once per calendar year, following prior written notice to Landlord, to review Landlord’s books and records relating to Additional Rental. Such request by Tenant must be made within forty five (45) days after receipt of Landlord’s annual statement regarding Additional Rental. Tenant is entitled to object to Landlord’s calculation of Tenant’s Proportionate Share of Excess Basic Costs and/or Energy Costs by sending notice specifying such objection and the reasons therefor to Landlord no later than thirty (30) days after Landlord makes such books and records available for examination. If Tenant objects to any portion of Landlord’s annual statement regarding Additional Rental, Landlord shall refer the matter to an independent certified public accountant, whose certification as to the proper amount shall be final and conclusive as between Landlord and Tenant. Tenant shall promptly pay the cost of such certification unless such certification determines that the annual statement or any separate statement was in error to Tenant’s detriment. Tenant shall have no right to review such books and records following the expiration of such forty (45) day period. Pending resolution of any Tenant objection to the annual statement, Tenant shall continue paying Additional Rent in the amounts determined by Landlord, subject to pay adjustment after any such objections are so resolved.
(d) Notwithstanding any provision contained herein to the contrary, if less than ninety five percent (95%) of the Net Rentable Area of the Building is occupied during any calendar year of the Lease Term, Additional Rental for purposes of Section 3.3(a) and 3.3(b) hereof shall be increased to the extent necessary to reflect the charges which would have been incurred if ninety five percent (95%) of the Net Rentable Area of the Building had been occupied during such year.
(e) If the term of the Lease commences on a date other than the first day of a calendar year, or ends on a date other than the last day of a calendar year, then during the next ensuing first and/or last calendar year years of the Lease Term, as appropriate, Basic Costs and the Basic Costs Base Rate shall be prorated on the basis of the amount number of Tenant's Forecast Additional Rental payable days elapsing during such year to reflect the calendar portion of the Basic Costs and the Basic Costs Base Rate which is allocable to the portion of such first or last year just ended until which is included within the month after such statement is delivered to TenantLease Term.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
(b) For purposes of this Lease, "Tenant's Additional Rental" shall mean for each calendar year the Operating Expense Amount (defined below) multiplied by the number of square feet of Rentable Floor Area of Demised Premises. As used herein, "Operating Expense Amount" shall mean an amount equal to (i) plus (ii), where:
(i) equals the amount of Operating Expenses (as defined below) for such calendar year; and
(ii) equals a management fee contribution equal to three percent (3%) of the sum of the Base Rental plus the amount due under item (i) above. Notwithstanding anything to the contrary set forth in item (ii) above, for the period beginning on the Effective Date and ending on August 31,2001, Tenant's management fee contribution shall continue to be calculated as provided in the Original Lease (i.e., $.34 per square foot of Rentable Floor Area of Demised Premises for calendar year 2000, and $.35 per square foot of Rentable Floor Area of Demised Premises for the applicable portion of calendar year 2001) and the three percent (3%) management fee contribution described in item (ii) above shall become effective as of September 1,2001. Tenant's management fee contribution for calendar year 2001 shall be appropriately pro-rated as of September 1, 2001.
(c) Within one hundred fifty (150) days after the end of the calendar year in which the Rental Commencement Date occurs and of each calendar year thereafter during the Lease Term, Landlord shall provide Tenant a statement showing the Operating Expenses (including components thereof in reasonable detail) for said calendar year, and a statement prepared by Landlord comparing Tenant's Forecast Additional Rental with ATLOI/IO756990v6 Tenant's Additional Rental. In the event Tenant's Forecast Additional Rental exceeds Tenant's Additional Rental for said calendar year, Landlord shall credit such amount against Rent next due hereunder or, if the Lease Term has expired or is about to expire, refund such excess to Tenant if there is not an event of default on the part of Tenant under this Lease (in the instance of an event of default such excess shall be held as additional security for Tenant's performance, may be applied by Landlord to cure any such event of default, and shall not be refunded until any such event of default is cured). In the event that the Tenant's Additional Rental exceeds Tenant's Forecast Additional Rental for said calendar year, Tenant shall pay Landlord, within thirty (30) days of receipt of the statement, an amount equal to such difference. The provisions of this Lease concerning the payment of Tenant's Additional Rental shall survive the expiration or earlier termination of this Lease.
Appears in 1 contract
Additional Rental. (a) For purposes of this LeaseTenant shall pay, "as Additional Rental, Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate Percentage Share of Tenant's the amount, if any, by which Operating Expenses (as hereinafter defined) for any calendar year exceed $1,545,147.50 ($6.50/rentable square foot of the Buildings). The Additional Rental for payable pursuant to this paragraph shall be determined, and paid in accordance with the coming calendar year following procedures:
(i) During each December of the Lease Term, or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%)as soon thereafter as practicable, Landlord shall have the right to revise, by give Tenant written notice to Tenant, of its estimate of Additional Rental payable under this Article 7 for such the ensuing calendar year. On or before the first day of each month during the ensuing calendar year, and subsequent payments by Tenant for shall pay to Landlord one-twelfth (1/12) of such estimated amounts together with the Base Rental, provided that if such notice is not given in December, Tenant shall continue to pay such Additional Rental during the ensuing calendar year shall be based upon on the basis of the amounts payable during the calendar year just ended, until the month after such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by notice is given.
(ii) As soon as practicable after the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning close of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present deliver to Tenant a statement of the adjustments to be made for the calendar year just ended. Such statement shall be final and binding upon Landlord and Tenant absent manifest error. If on the basis of such statement Tenant's Forecast Additional Rental Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount that is less than the estimated payments actually made by Tenant for such calendar year; provided, however, that if Landlord shall credit such statement is not given prior excess to the beginning next payments of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year Additional Rental and Base Rental coming due. If on the basis of such statement Tenant's Percentage Share of the actual increase in Operating Expenses for such calendar year is an amount greater that the estimated payments actually made by Tenant, Tenant shall pay as Additional Rental the deficiency to Landlord within thirty (30) days after delivery of the statement.
(iii) If this Lease shall commence, expire or terminate on a day other than the last day of a calendar year, the amount of Tenant's Forecast Additional Rental payable during the first or final calendar year just ended until of the month Lease Term, as the case may be, shall be prorated based on the actual number of days of the Lease Term during such calendar year. The expiration or termination of this Lease shall not affect the obligations of Landlord and Tenant to be performed after such statement is delivered expiration or termination, pursuant to Tenantthis Article 7.
Appears in 1 contract
Additional Rental. As additional rental hereunder (a“Additional Rental”), Lessee shall pay to Lessor, monthly in advance, Lessee’s Proportionate Share of: (i) For purposes the cost of Lessor’s insurance described in Section 4(b) above, (ii) real estate taxes described in Section 5, above, and (iii) Common Area Maintenance described in Section 6, above. Notwithstanding anything to the contrary contained in this Lease, "Tenant's Forecast Additional Rental" Lessee shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming not be obligated to pay Controllable Expenses in any calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate which exceed by more than five percent (5%) the Controllable Expenses for the immediately preceding calendar year. “Controllable Expenses” means all Additional Rental except taxes, insurance and utilities. “Lessee’s Proportionate Share” means a fraction, the numerator of which is the square footage contained in the Premises, and the denominator of which is the square footage contained in the Building. Assuming Lessor’s measurement of the Building and Premises set forth in the Witnesseth provision of this Lease are correct, Lessee’s Proportionate Share is 78.75%. Prior to the commencement of each calendar year of the Lease term, or as soon thereafter as practicable, Lessor shall give Lessee written notice of its good faith estimate of the Additional Rental due from Lessee the ensuing year of the Lease term. On the first day of each calendar month of the ensuing year, Lessee shall pay to Lessor 1/12th of such estimated amount, provided, if such notice is not given on or before the January rental payment is due, Lessee shall continue to pay on the basis of the prior year’s estimate until the month after such notice is given. If at any time or times it appears to Lessor determines in good faith that its estimate of Additional Rental for the current year is understated by at least ten percent (10%), Landlord shall have the right to reviseLessor may, by written notice to TenantLessee, revise its estimate for such year, and subsequent payments of monthly installments of Additional Rental by Tenant for such year Lessee shall be based upon such revised estimate estimates. Within ninety (90) days after end of Tenant's each calendar year of the Lease term, or as soon after such ninety (90) day period as practicable, Lessor shall deliver to Lessee a statement of Additional Rental and Base Rent payable under this paragraph for such year, certified by Lessor’s chief financial officer to be true and correct. If such statement shows that Lessee’s estimated payments for such year exceed the actual amount due, Lessor shall refund such excess payment to Lessee with delivery of the statement of Additional Rental. Failure If such statement shows an amount owing by Lessee that is more than the estimated payments for such year previously made by Lessee, Lessee shall pay the deficiency to make a revision contemplated by Lessor within fifteen (15) days after delivery of the immediately preceding sentence shall not prejudice Landlord's right to collect statement. In the full amount of Tenant's Additional Rental. Prior to event the Rental Commencement Date or the expiration date of this Lease fall on days other than January 1 and thereafter prior December 31, respectively, Additional Rental payable under this paragraph shall be calculated on a per diem basis for the actual number of days of the Lease term falling in the applicable calendar year. Lessee, at its expense, shall have the right at all reasonable times to the beginning of each audit Lessor’s books and records relating to items affecting Additional Rental for any calendar year during the Lease Termterm; provided that Lessee’s right to audit shall expire within two (2) years after Lessor has furnished to Lessee its Statement for the applicable calendar year and the final audit right shall expire within ninety (90) days from the Lease Termination Date and, including Lessee has not notified Lessor in writing of Lessee’s election to conduct an audit. If Lessee has timely exercised its option to conduct an audit, Lessee shall have a period of ninety (90) days in which to complete the audit, which ninety (90) day period shall only commence after Lessor has afforded Lessee full access to such documents (in a location within the Business Park) as are in Lessor’s possession or control and which are necessary to conduct the audit including, without limitation (to the extent within Lessor’s possession and control), work papers prepared by Lessor’s certified public accountants, canceled checks, invoices, and such other documents as may be reasonably required, all of which documents shall be in accordance with generally accepted accounting standards. Lessor shall cooperate with Lessee as to facilitate the performance of Lessee’s audit. In the event that it is ultimately determined that a refund of any extensions thereofAdditional Rental paid by Lessee which exceeds five percent (5%) of the total so paid by Lessee for such year (by agreement of the parties, Landlord shall present to Tenant by a statement of Tenant's Forecast final court determination, or otherwise) that the actual Additional Rental for such calendar year; provided, however, that if such statement any year is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of less than the amount set forth in Lessor’s Statement, then Lessor shall reimburse Lessee for such overcharge within fifteen (15) days of Tenant's Forecast Additional Rental payable during receipt of notice thereof. If the calendar year just ended until overcharge is by an amount in excess of five percent (5%), Lessor shall also reimburse Lessee for the month after cost or fees paid by Lessee in connection with such statement is delivered to Tenantaudit.
Appears in 1 contract
Sources: Industrial Lease (Medical Technology Systems Inc /De/)
Additional Rental. (a) For purposes of this Lease, "“Tenant's ’s Forecast Additional Rental" shall mean ” means Landlord's ’s reasonable estimate of Tenant's Additional ’s Operating Expense Rental for the coming initial period of the Lease Term from the Lease Commencement Date until the end of the first calendar year of the Lease Term, and for all subsequent calendar years or portion thereofportions thereof occurring during the balance of the Lease Term. If at any time it reasonably appears to Landlord that Tenant's Additional ’s Operating Expense Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%)’s estimate, Landlord shall have the right to revise, by notice to Tenant, revise its estimate for such year, year by notice to Tenant and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rentalestimate. Failure to make such a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's ’s right to collect the full amount of Tenant's Additional ’s Operating Expense Rental. Prior to the Rental Lease Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's ’s Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidyear, Tenant shall continue to pay during the next ensuing calendar year on the same basis of as in the amount of Tenant's Forecast Additional Rental payable during the prior calendar year just ended until the month after such statement is delivered to Tenant. Commencing with the first day of the calendar month following the month in which the Tenant’s Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant’s Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the first day of each month.
Appears in 1 contract
Sources: Lease Agreement (Lifelock, Inc.)
Additional Rental. (a) For purposes Tenant shall pay to Landlord as Additional Rent its pro rata share of increase in Direct Expenses and Direct Tax Expense over such expenses incurred for the Base Year. Such payments shall be made in monthly installments on the first day of each month, based upon Landlord's Estimate. Landlord shall endeavor to give to Tenant on or before the Adjustment Date a final statement of any increase in Additional Rental payable by Tenant under this Lease, "Tenant's Forecast but failure by Landlord to give such a statement by such a date shall not constitute a waiver by Landlord of its right to require an increase in Additional Rental" shall mean Landlord's reasonable estimate of . If Tenant's Additional Rental for payable under this Lease as shown on the coming calendar Adjustment Date statement is greater or less than the total amounts actually billed to and paid by Tenant pursuant to the Estimate during the year covered by such statement, a payment shall be made by Landlord or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such yearwhichever the case may be, within thirty (30) days. Even though the Term has expired or terminated, and subsequent payments by Tenant for such year shall be based upon such revised estimate has vacated the Premises when the final determination is made of Tenant's Additional Rental. Failure to make a revision contemplated by pro rata share of increase in Direct Expenses and Direct Tax Expense for the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the in which this Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidexpires or terminates, Tenant shall continue to immediately pay during any increase due over the next ensuing calendar year on estimate, and, conversely, any overpayment made in the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after event such statement is delivered Expenses decrease shall be immediately refunded by Landlord to Tenant.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (55 %), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full Ml amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Digital Television Services of Kansas LLC)
Additional Rental. (a) Subject to the terms of this Article 8, from and after the Rental Commencement Date, Tenant shall pay to Landlord "Tenant's Forecast Additional Rental" (as defined in subparagraph (b) hereinbelow) and "Tenant's Additional Rental" (as defined in subparagraph (c) hereinbelow). Payments of Tenant's Forecast Additional Rental shall be made as set forth in Article 5(a).
(b) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean Landlord's reasonable estimate of Tenant's Additional Rental for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after such statement is delivered to Tenant.
Appears in 1 contract
Sources: Lease Agreement (Nichols Txen Corp)
Additional Rental. (a) For purposes of this Lease, "Tenant's Forecast Additional Rental" shall mean means Landlord's reasonable estimate of Tenant's Additional Rental for the coming initial period of the Lease Term from the Rent Commencement Date until the end of the first calendar year of the Lease Term, and for all subsequent calendar years or portion thereofportions thereof occurring during the balance of the Lease Term. If at any time it reasonably appears to Landlord that Tenant's Additional Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%)estimate, Landlord shall have the right to revise, by notice to Tenant, revise its estimate for such year, year by notice to Tenant and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rentalestimate. Failure to make such a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the Rental Rent Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidyear, Tenant shall continue to pay during the next ensuing calendar year on the same basis of as in the amount of Tenant's Forecast Additional Rental payable during the prior calendar year just ended until the month after such statement is delivered to Ten ant. Commencing with the first day of the calendar month following the month in which the Tenant's Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant's Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the first day of each month.
Appears in 1 contract
Sources: Lease (Digital Island Inc)
Additional Rental. (a) For purposes each calendar year during the Term, Landlord shall present to Tenant on or prior to December 15 of this Leasethe preceding calendar year (or as soon as possible thereafter or for the calendar year in which the first Rental Commencement Date occurs for a portion of the Initial Leased Premises, prior to such first Rental Commencement Date) a statement of Tenant's Forecast Additional Rental (defined below) for the applicable year (or portion thereof). If Landlord fails to promptly present to Tenant such statement, Tenant shall continue to pay Tenant's Forecast Additional Rental based upon the most recent prior statement presented by Landlord to Tenant until such statement is presented. Additionally, Landlord shall furnish Tenant with a non-binding estimate of Tenant's Forecast Additional Rental on or before September 1 of the preceding calendar year (other than the calendar year in which the first Rental Commencement Date occurs).
(b) As used herein, "Tenant's Forecast Additional Rental" shall mean for each calendar year Landlord's reasonable best good faith estimate of Tenant's Additional Rental (defined below) for the coming calendar year or portion thereof. If at any time it appears to Landlord that Tenant's Additional Rental for (or, in the current calendar year will vary from Landlord's estimate by more than five percent (5%), Landlord shall have in which the right to revise, by notice to Tenant, its estimate for such year, and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rental. Failure to make a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's right to collect the full amount of Tenant's Additional Rental. Prior to the first Rental Commencement Date and thereafter prior to occurs for a Major Portion of the beginning of each calendar year during the Lease TermInitial Leased Premises, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's Forecast Additional Rental for such calendar year; provided), however, that if such statement is not given which estimate may be adjusted by Landlord no more than one (1) time (on or prior to the beginning of July 1) in any calendar year as aforesaid, Tenant shall continue to pay during the next ensuing calendar year on the basis of the amount of Tenant's Forecast Additional Rental payable during the calendar year just ended until the month after which such statement is delivered to Tenantestimate relates.
Appears in 1 contract
Additional Rental. (a) For purposes of this Lease, "“Tenant's ’s Forecast Additional Rental" shall mean ” means Landlord's ’s reasonable estimate of Tenant's Additional ’s Operating Expense Rental for the coming initial period of the Lease Term from the Lease Commencement Date until the end of the first calendar year of the Lease Term, and for all subsequent calendar years or portion thereofportions thereof occurring during the balance of the Lease Term. If at any time it reasonably appears to Landlord that Tenant's Additional ’s Operating Expense Rental for the current calendar year will vary from Landlord's estimate by more than five percent (5%)’s estimate, Landlord shall have the right to revise, by notice to Tenant, revise its estimate for such year, year by notice to Tenant and subsequent payments by Tenant for such year shall be based upon such revised estimate of Tenant's Additional Rentalestimate, provided that Landlord shall not make any such adjustment more than two (2) times in any twelve (12) month period. Failure to make such a revision contemplated by the immediately preceding sentence shall not prejudice Landlord's ’s right to collect the full amount of Tenant's Additional ’s Operating Expense Rental. Prior to the Rental Lease Commencement Date and thereafter prior to the beginning of each calendar year during the Lease Term, including any extensions thereof, Landlord shall present to Tenant a statement of Tenant's ’s Forecast Additional Rental for such calendar year; provided, however, that if such statement is not given prior to the beginning of any calendar year as aforesaidyear, Tenant shall continue to pay during the next ensuing calendar year on the same basis of as in the amount of Tenant's Forecast Additional Rental payable during the prior calendar year just ended until the month after such statement is delivered to Tenant. Commencing with the first day of the calendar month following thirty (30) days after the date in which the Tenant’s Forecast Additional Rental was delivered to Tenant, Tenant shall pay Tenant’s Forecast Additional Rental (less amounts, if any, previously paid toward such excess for such year) to Landlord in equal monthly installments over the remainder of such calendar year in advance on the first day of each month.
Appears in 1 contract
Sources: Lease Agreement (Atlassian Corp PLC)