Adjustments to Operating Expenses. If the Building is less than 100% occupied during any calendar year of the Lease Term, including the Base Expense Year, Operating Expenses for such calendar year shall be adjusted to the amount of Operating Expenses that would have been incurred if the Building had been 100% occupied. Notwithstanding anything to the contrary set forth in this Lease, if in any calendar year subsequent to the Base Expense Year, the amount of Operating Expenses decreases below the amount of Operating Expenses allocable to the Base Expense Year, Tenant shall not be entitled to receive any refund or credit. In no event shall any adjustments to Operating Expenses in any calendar year result in Landlord receiving from Tenant and other tenants more than one hundred percent (100%) of the cost of the actual Operating Expenses incurred by Landlord in any such calendar year and Landlord shall not make a profit by charging items to Operating Expenses; provided that, this sentence shall not limit Landlord’s ability to include in Operating Expenses the management fee set forth in the definition of Operating Expenses. Base Year Expenses shall not include market-wide cost increases (including utility rate increases) due to extraordinary circumstances, including, but not limited to, Force Majeure Events, boycotts, strikes, conservation surcharges, embargoes or shortages.
Adjustments to Operating Expenses. If during any Lease Year (including, without limitation, calendar years 2015 and 2016), (a) any space on or above the 3rd floor of the Building shall be vacant or unoccupied, and/or (b) the tenant or occupant of any space on or above the 3rd floor level of the Building undertook to perform work or services therein in lieu of having Landlord (or Landlord’s Affiliates) perform the same and the cost thereof would have been included in Operating Expenses, then, in any such event(s), the Operating Expenses for such period shall be increased by an amount equal to the additional Operating Expenses that would reasonably have been incurred if such space had been occupied or if Landlord (or Landlord’s Affiliates) had performed such work or services, as the case may be.
Adjustments to Operating Expenses. If at any time, but no more than once each calendar year, it appears to Landlord that the actual Operating Expenses for any calendar year during the Term will exceed the estimated Operating Expenses set forth in Landlord's statement to Tenant by more than five percent (5%), then Landlord shall have the right by notice to Tenant to revise the estimated Operating Expenses for such year and subsequent payments thereof shall, commencing with the first month after which Tenant receives such notice, be increased based upon such revised statement.
Adjustments to Operating Expenses. Within 120 days after the end of each calendar year, Landlord shall furnish to Tenant an operating statement showing the actual Operating Expenses incurred for the preceding calendar year. Tenant shall either receive a refund or be assessed an additional sum based upon the difference between Tenant's Proportionate Share of the actual Operating Expenses over and above the Additional Rent payments made by Tenant during said year. Any additional sum owed by Tenant to Landlord shall be paid within ten (10) days of receipt of assessment. Any refund owed by Landlord to Tenant shall be credited toward Tenant's next month's rental payment. Each operating statement given by Landlord shall be conclusive and binding upon Tenant unless, within thirty (30) days after Tenant's receipt thereof, Tenant shall notify Landlord that it disputes the accuracy of said operating statement. In such case, Tenant shall have the right, at its expense to audit said statement, in the event Tenant finds discrepancies resulting in a savings to Tenant in excess of five percent (5%), then Landlord would agree to reimburse Tenant for audit. Failure of Landlord to submit the written statement referred to herein shall not waive any rights of Landlord, unless such statement is not submitted within one year from the end of the prior calendar year.
Adjustments to Operating Expenses. If a clerical error occurs or Landlord or Landlord's accountants discover new facts, which error or discovery causes Operating Expenses for any period to increase or decrease, upon notice by Landlord to Tenant of the adjusted additional Operating Expenses for such calendar year, the adjusted additional Operating Expenses shall apply and any deficiency or overpayment of Tenant's Proportionate Share of the Operating Expense Pass-through Amount, as the case may be, shall be paid by Tenant or taken as a credit by Tenant according to the provisions set forth above. This provision shall survive the termination of the Lease.
Adjustments to Operating Expenses. If a clerical error occurs or Lessor or Lessor’s accountants discover new facts, which error or discovery causes Operating Expenses for any period to increase or decrease, upon notice by Lessor to Lessee of the adjusted additional Operating Expenses for such calendar year, which notice must be given within one (1) year after Lessor delivers its original statement of reconciled Operating Expenses for such calendar year, the adjusted additional Operating Expenses shall apply and any deficiency or overpayment of Lessee’s Proportionate Share of the Operating Expenses, as the case may be, shall be paid by Lessee or taken as a credit by Lessee according to the provisions set forth above. This provision shall survive the termination of the Lease.
Adjustments to Operating Expenses. If at any time it appears to --------------------------------- Landlord that the actual increases in Operating Expenses for any calendar year during the Term will exceed the Estimated Increased Operating Expenses set forth in Landlord's statement to Tenant by more than five percent (5%), then Landlord shall have the right by notice to Tenant to revise the Estimated Increased Operating Expenses for such year and subsequent payments of Tenant's Share thereof shall, commencing with the first month after which Tenant receives such notice, be increased based upon such revised statement.
Adjustments to Operating Expenses. 6 5.4 Tenant's Inspection and Audit Rights............................ 6 Section 6.
Adjustments to Operating Expenses. It is understood that Operating Expenses shall be reduced by all cash discounts, trade discounts, quantity discounts, rebates or other amounts received by Landlord or Landlord’s managing agent in the purchase of any goods, utilities, or services in connection with the operation of the Building and/or Project. If capital items which are customarily purchased by landlords of Comparable Projects are leased by Landlord, rather than purchased, the decision by Landlord to lease the item in question shall not serve to increase Tenant’s Share of Operating Expenses beyond that which would have applied had the item in question been purchased. Similarly, no decision to purchase equipment shall serve to increase Tenant’s Share of Operating Expenses beyond that which would have applied had the item in question been leased.
Adjustments to Operating Expenses. Within 120 days after the end of each calendar year, Landlord shall furnish to Tenant an operating statement showing the actual Operating Expenses incurred for the preceding calendar year. Tenant shall either receive a refund or be assessed an additional sum based upon the difference between Tenant's Proportionate Share of the actual Operating Expenses over and above the Additional Rent payments made by Tenant during said year. Any additional sum owed by Tenant to Landlord shall be paid within ten (10) days of receipt of assessment. Any refund owed by Landlord to Tenant shall be credited toward Tenant's next month's rental payment. Each operating statement given by Landlord shall be conclusive and binding upon Tenant unless, within thirty (30) days after Tenant's receipt thereof, Tenant shall notify Landlord that it disputes the accuracy of said operating statement. In such case, Tenant shall have the right, at its expense to audit said statement, in the event Tenant finds discrepancies resulting in a savings to Tenant in excess of ten percent (10%), then Landlord would agree to reimburse Tenant for audit.
