Annual Maintenance Programs Clause Samples

Annual Maintenance Programs. On or before November 1, 2002 and on or before November 1st of each year (other than with respect to the material described in clause (iii) below, which shall be rendered within ninety (90) days after the end of each calendar year), thereafter during the term of this Lease, Tenant shall submit to Landlord (i) for its approval, which shall not be unreasonably withheld, a budget of expenses (including, without limitation, costs and expenses incurred in operating the Demised Premises) and capital expenditures that Tenant plans to incur and/or make for the 12-month period commencing on the next January 1st identifying those capital expenditures that Tenant expects will be reimbursable pursuant to Section 9.5 hereof (an "Annual Expense Budget"), and (ii) for its approval, which shall not be unreasonably withheld, a maintenance program with respect to the Programmed Maintenance Items for the 12-month period commencing on the next January 1st (an "Annual Maintenance Program"), and (iii) for its review, a reconciliation report detailing the actual expenses (including, without limitation, costs and expenses incurred in operating the Demised Premises) and capital expenditures as well as costs and expenses for Programmed Maintenance Items actually incurred by Tenant for the then-current year, together with any further information reasonably requested by Landlord with respect to such reconciliation report. Landlord shall give notice to Tenant of Landlord's approval or disapproval of each Annual Maintenance Program and Annual Expense Budget within 30 business days after receipt by Landlord of all items set forth in the foregoing clauses (i), (ii) and (iii) (which notice shall, in the case of a disapproval, be accompanied by a reasonably complete statement of the reasons for disapproval). If Tenant disputes whether Landlord's approval was reasonably withheld, the part or parts of the Annual Maintenance Program or Annual Expense Budget affected by such dispute shall be determined by the Appropriate Engineer in accordance with the First-Class Standard.