CAM Expenses. To the extent that Tenants are reimbursing the landlord for common area maintenance and other operating expenses (collectively, “CAM Charge(s)”), CAM Charges shall be prorated at Closing and again subsequent to Closing, as of the Closing Date on a lease-by-lease basis with each Party being entitled to receive a portion of the CAM Charges payable under each Lease for the CAM Lease Year (as defined below) in which Closing occurs, which portion shall be equal to the actual CAM Charges incurred during the Party’s respective periods of ownership of the Property during the CAM Lease Year. As used herein, the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Lease. Five (5) days prior to the Closing Date Seller shall submit to Buyer an itemization of its actual CAM Charge expenses through such date and the amount of CAM Charges received by Seller as of such date, together with an estimate of CAM Charges to be incurred to, but not including, the Closing Date. In the event that Seller has received CAM Charge payments in excess of its actual CAM Charge expenses, Buyer shall be entitled to receive a credit against the Purchase Price for the excess. In the event that Seller has received CAM Charge payments less than its actual CAM Charge expenses, to the extent that the Leases provide for a “true up” at the end of the CAM Lease Year, Seller shall be entitled to receive any deficit but only after Buyer has received any true up payment from the Tenant. Upon receipt by either Party of any CAM Charge true up payment from a Tenant, the Party receiving the same shall provide to the other Party its allocable share of the “true up” payment within five (5) days of the receipt thereof. To assist Buyer in preparing “true up” reconciliation at the end of the CAM Lease Year, Seller shall deliver to Buyer records of all of Seller’s CAM Charge expenditures at the Closing for the CAM Lease Year in question.
CAM Expenses. To the extent that tenants are reimbursing the landlord for common area maintenance and other operating expenses (collectively, “CAM Charge(s)”), CAM Charges shall be prorated at Closing as of the Closing Date on a lease-by-lease basis with each party being entitled to receive a portion of the CAM Charges payable under each Tenant Lease for the CAM Lease Year (as defined below) in which Closing occurs, which portion shall be equal to the actual CAM Charges incurred during the party’s respective periods of ownership of the Property during the CAM Lease Year. As used herein, the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Tenant Lease. Seller shall be responsible for the CAM reconciliation on a lease-by-lease basis for their ownership period within the CAM Lease Year up to, but not including, the Closing Date. Buyer shall be responsible for the CAM reconciliation on a lease-by-lease basis for their ownership period within the CAM Lease Year including the Closing Date. In the event of any expenses, i.e. property taxes, where a proration was based on an estimate for the year of Closing, a post close “true up” will be performed for the actual expense to determine Seller and Buyer obligation for their ownership period for the year of Closing. Each party will be responsible for any CAM “true up” necessary to the extent that the Leases provide for a “true up”.
CAM Expenses. The term “CAM Expenses” shall mean all payments actually made by a Seller through the Statement Date for common area maintenance charges and other operating expenses, and which shall be shown on the CAM Proration Statement. Unpaid invoices and other amounts due for CAM Expenses shall be prorated as of the Statement Date based on a 365-day year or such other period as may be covered by the applicable invoice.
CAM Expenses. Notwithstanding any provisions in this lease to the contrary, Lessor may elect, at any time during the term of this lease, and at his sole discretion, to use the following alternative method of calculating Lessee’s proportionate share of and liability for, Lessor’s common area maintenance, taxes and insurance expenses (“CAM Expenses”) as provided for in this lease:
CAM Expenses. To the extent that tenants are reimbursing the landlord for common area maintenance and other operating expenses (collectively, "CAM Charges"), CAM Charges shall be prorated at Closing and again subsequent to Closing, as of the date of Closing on a lease–by–lease basis with each party being entitled to receive a portion of the CAM Charges paid under each Lease for the CAM Lease Year in which Closing occurs, which portion shall be equal to the actual CAM Charges incurred during the party's respective periods of
CAM Expenses. “CAM Expenses” are all out-of-pocket costs and expenses paid or incurred by Landlord in connection with the operation and maintenance of the Common Areas (as defined below), the Property and the repair, maintenance and/or, replacement of the heating, ventilation, air conditioning, plumbing, electrical, utility, and safety systems, including, but not limited to, the following: gardening and landscaping; snow removal; utility, water and sewage services for the Common Areas or provided to all tenants of the Property; maintenance of signs; worker’s compensation insurance; personal property taxes; rental or lease payments for rented or leased personal property used in the operation or maintenance of the Common Areas; fees for required licenses and permits; routine maintenance, repair and replacement of roof membrane, flashings, gutters, downspouts, roof drains, skylights and waterproofing; repair, maintenance and replacement of paving (including sweeping, striping, repairing, resurfacing and repaving); general maintenance; painting; lighting; cleaning; refuse removal; payroll of maintenance personnel and management personnel not above the level of property manager; security guards; a property management fee (not to exceed market rates); and premiums for the insurance carried by Landlord pursuant to Section 5.1.4 of this Lease. Notwithstanding any other provision of this Lease, CAM Expenses shall not, however, include the following: rent and other concessions, refurbishment and improvement expenses incurred in connection with other tenant’s spaces, leasing commissions, advertising and promotional expenses, legal fees and other costs in leasing and procuring new tenants for the Property; expenditures for capital improvements except (i) capital expenditures which Landlord reasonably anticipates will have the effect of reducing current and/or future CAM Expenses and (ii) capital expenditures required by laws enacted or regulations promulgated after the date of this Lease (provided, however, only an amortized portion of any capital expenditures permitted to be included in CAM Expenses shall be included in CAM Expenses for the year in which the expenditures are incurred and subsequent years, on a straight line basis, over the useful life of the item, with an interest factor reasonably determined by Landlord in good faith at the time of Landlord’s having incurred said expenditure); cost of repairs or replacements incurred by reason of fire or other casualty or by the ...
CAM Expenses. All payments actually made by Seller for CAM Expenses shall be shown on the CAM Proration Statement. Unpaid invoices and other amounts due for CAM Expenses shall be prorated as of the Statement Date based on a 365 day year.
CAM Expenses. To the extent that tenants are reimbursing the landlord for common area maintenance and other operating expenses (collectively, “CAM
CAM Expenses. On the "Closing Date" (as defined in the Agreement), Inland shall receive a credit against the Purchase Price in an amount equal to the prorata amount (calculated from the Closing Date to the last day of the month in which the Closing Date occurs) for the monthly common area maintenance expense, tax expense and insurance expense allocable to the Vacant Spaces (collectively, the "CAM EXPENSES") for the calendar month in which the Closing Date. Thereafter, commencing in the second calendar month after the Closing Date, and monthly thereafter until Termination Date, or such earlier date as tenants have commenced full payment of CAM Expenses under approved leases with respect to all of the Vacant Spaces, RED shall deliver to Inland (outside of this Escrow Agreement) an amount equal to the monthly CAM Expenses for the current calendar month allocable to the Vacant Spaces as stated below: SUITE # SQUARE FEET AMOUNT ------- ----------- ------ 05-10 2,763 $ 1,832.79 05-29 3,294 $ 2,185.02 05-02 2,345 $ 1,555.52 O5-O8 5,579 $ 3,700.74 05-14 1,500 $ 995.00 7 05-15 6,486 $ 4,302.38 05-24A 2,088 $ 1,385.04 05-24B 5,037 $ 3,341.21 ----------------------------- 29,092 $ 19,297.69 ============================= less the pro rata amount of the monthly CAM Expenses under approved leases for Vacant Spaces for which the tenant is open for business and for which CAM Expense payments had commenced on or after the second day of the prior calendar month. The amount to be disbursed to Inland shall be set forth in a Disbursement Request in the form of EXHIBIT E attached hereto signed by Inland and delivered to RED. Such amount shall be disbursed to Inland one (1) time per month within ten (10) days after Inland's submission of a Disbursement Request. Notwithstanding the foregoing, the amount set forth above for each Vacant space shall be increased by 5% on January 1 of each year during the term of this Agreement, provided however at the Termination Date, the actual amount of CAM shall be determined and an adjustment shall be made between Inland and RED with respect to any overpayment or underpayment.
CAM Expenses. To the extent that Tenant is reimbursing the landlord for common area maintenance and other operating expenses (collectively, “CAM Charge(s)”), CAM Charges shall be prorated at Closing as of the Closing Date with each party being entitled to receive a portion of the CAM Charges payable under the Tenant Lease for the CAM Lease Year (as defined below) in which Closing occurs, which portion shall be equal to the actual CAM Charges incurred during the party’s respective periods of ownership of the Property during the CAM Lease Year. As used herein, the term “CAM Lease Year” means the twelve (12) month period as to which annual CAM Charges are owed under each Tenant Lease. Seller shall be responsible for the CAM Charges reconciliation for their ownership period within the CAM Lease Year up to, but not including, the Closing Date. Buyer shall be responsible for the CAM Charges reconciliation for its ownership period within the CAM Lease Year including the Closing Date. In the event of any expenses, i.e. property taxes, where a proration was based upon an estimate for the year of Closing, a post closing “true up” will be performed for the actual expense to determine Seller and Buyer obligation for their ownership period for the year of Closing. Each party will be responsible for any CAM Charges “true up” necessary to the extent that the Tenant Lease provides for a “true up”.
