Common use of Basic Costs Clause in Contracts

Basic Costs. On a monthly basis, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12th) of the product of (i) Landlord’s estimate of the annual Basic Costs for the Building (as described in Exhibit C), multiplied by (ii) Tenant’s Proportionate Share (hereinafter “Tenant’s Estimated Share of Basic Costs”). Tenant shall pay to Landlord, on the Commencement Date and on the first day of each calendar month thereafter, an amount equal to T▇▇▇▇▇’s Estimated Share of Basic Costs for the ensuing month. From time to time during any calendar year, Landlord may estimate and re-estimate the Tenant’s Estimated Share of Basic Costs for that calendar year and deliver a copy of the estimate or re-estimate to Tenant. Thereafter, the monthly installments of Tenant’s Estimated Share of Basic Costs shall be appropriately adjusted in accordance with the estimations so that, by the end of the calendar year in question, Tenant shall have paid all of Tenant’s Estimated Share of Basic Costs. It is understood that the “estimated” cost is subject to revision based on the actual operating costs of the Building and Project.