Common use of Annual Reconciliation Clause in Contracts

Annual Reconciliation. Within one hundred twenty (120) days after the end of each calendar year after the Real Estate Tax Base Year, Landlord shall provide to Tenant a statement (the "Expense Statement") setting forth the total Real Estate Taxes for such calendar year and Tenant's Share of Tax Increases for the applicable year. Within fifteen (15) days after the delivery of such Expense Statement, Tenant shall pay to Landlord any deficiency between the amount shown as Tenant's Share of Tax Increases for such calendar year and the estimated payments made by Tenant toward such amount in accordance with Section 10.3, above. In the case of excess estimated payments, the excess shall be applied against estimated payments of Real Estate Taxes for the subsequent calendar year, unless the Lease shall have expired, in which event Landlord shall refund such excess, without interest, with the delivery of the Expense Statement.

Annual Reconciliation. Within one hundred twenty (120) days after the end of each calendar year after the Real Estate Tax Base Year, Landlord shall provide to Tenant a statement (the "Expense “Tax Statement"”) setting forth the total Real Estate Taxes for such calendar year and Tenant's ’s Share of Tax Increases for the applicable year. Within fifteen (15) days after the delivery of such Expense Tax Statement, Tenant shall pay to Landlord any deficiency between the amount shown as Tenant's ’s Share of Tax Increases for such calendar fiscal year and the estimated payments made by Tenant toward such amount in accordance with Section 10.3, above. In the case of excess estimated payments, the excess shall be applied against estimated payments of Real Estate Taxes for the subsequent calendar year, unless the Lease shall have expired, in which event Landlord shall refund such excess, without interest, with the delivery of the Expense Tax Statement.

Annual Reconciliation. Within one hundred twenty (120) days after the end of each calendar year after the Real Estate Tax Base Year, Landlord shall provide to Tenant a statement (the "Expense Statement") setting forth the total Real Estate Taxes for such calendar year and Tenant's Share of Tax Increases for the applicable year. Within fifteen thirty (1530) days after the delivery of such Expense Statement, Tenant shall pay to Landlord any deficiency between the amount shown as Tenant's Share of Tax Increases for such calendar year and the estimated payments made by Tenant toward such amount in accordance with Section 10.3, above. In the case of where the Expense Statement reflects excess estimated payments, the excess shall be applied against estimated the next payments of Real Estate Taxes for the subsequent calendar yearRent becoming due under this Lease, unless the Lease shall have expired, in which event Landlord shall refund such excess, without interest, with the delivery of the Expense Statement.