Common use of Common Area Charges Clause in Contracts

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.

Appears in 2 contracts

Samples: Lease Agreement (Northern Power Systems Corp.), Lease Agreement (Wind Power Holdings Inc)

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Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). TenantLessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided herein below, the sum of Two Thousand and Two Hundred Dollars ($2,200), said sum representing Lessee’s pro rata estimated monthly payment of Lessee’s percentage share of CAC. It is 100%understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. CAM consists Lessee’s estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (including municipal or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 120 days of the end of the calendar year and state-wide property tax assessments) the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefore, and insurance premiums for all insurance carried by the Landlord Lessee shall revise its monthly payments accordingly. Lessor’s and Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease term)Term or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. To As used in this Lease, CAC shall include but is not limited to: (i) landscaping repair, replacement, and maintenance; (ii) all costs and expenses including but not limited to supplies, materials, equipment and tools used or required in connection with the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days operation and maintenance of the date Premises; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Lessor in maintaining and operating the statement is delivered Premises; and (v) an amount equal to Tenantten percent (10%) of items (i) through (iv) above. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant Lessee shall have the right to inspect such records. For review the first year of basis and computation analysis used to derive the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 2 contracts

Samples: Lease (Intevac Inc), Lease (Intevac Inc)

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect In addition to the real estate rental and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are other charges herein provided to be paid by Tenant Lessee to Lessor, Lessee shall pay to Lessor, as additional rent and as Lessee’s share of the cost of maintaining, operating, repairing and managing the Project, Lessee’s proportionate share (e.g.as defined in Section 12) of the Total Common Area Charges (as hereinafter defined) for any calendar year during the Term (the “CAM Amount”). Lessee shall pay Lessor in advance its monthly estimated proportionate share (as described in Section 12) of the CAM Amount, at together with all applicable rental Please Initial: Lessor ¨ Lessee ¨ taxes due thereon, within ten (10) days after receipt of an invoice from Lessor setting forth Lessor’s estimate of such amount. Within ninety (90) days following the end of each calendar year during the Lease term)Term or as soon thereafter as is reasonably possible, Lessor shall furnish Lessee with a statement of all Total Common Area Charges for the Project for the previous calendar year indicating the computation of Lessee’s proportionate share of the CAM Amount for such calendar year and the payments made by Lessee during such calendar year. To If Lessee’s aggregate estimated monthly payments actually paid to Lessor for the extent actual calendar year are greater than Lessee’s proportionate share of the CAM exceeds Amount for such calendar year, Lessor shall promptly pay the estimated CAMexcess to Lessee or shall apply the excess to any past due amounts owing from Lessee to Lessor; if the payments made are less than Lessee’s proportionate share, Tenant Lessee shall pay the difference to Landlord Lessor within thirty ten (3010) days of its receipt of such statement. Total Common Area Charges shall consist of all costs and expenses of every type associated with the date the statement is delivered to Tenant. Landlord will preserve the records management, repair, maintenance, and insuring of the actual CAM Common Areas including, without limitation, costs and expenses for inspection the following: gardening and landscaping; utilities, water and sewer charges; premiums for liability, property damage and casualty insurance and xxxxxxx’x compensation insurance; all personal property taxes levied on or attributable to personal property used in connection with the Common Areas; straight line depreciation on personal property owned by Tenant for two (2) years from Lessor which is consumed in the date operation or maintenance of the Common Areas; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Common Areas; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, refuse removal, security and similar items; repair and maintenance of exterior roofs and reserves for roof replacement and exterior painting of the Project and other appropriate reserves; and fees paid to property managers. Said Total Common Area Charges shall further include all charges for semi-annual statement preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which is attributable to which the receipts applyProject, and Tenant shall have the right to inspect such records. For the first year cost of lighting, maintenance and repair of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthProject identification signs.

Appears in 2 contracts

Samples: HTG Molecular Diagnostics, Inc, HTG Molecular Diagnostics, Inc

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows. Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter, Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid for less than its actual percentage, then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefore, and Tenant shall revise its payments accordingly. Landlord’s and Tenant’s pro rata obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. “Common area charges,” as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 16 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant’s share of any such capital improvement shall equal Tenant’s proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project; (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; (vii) all other operating costs incurred by Landlord reasonably incurred in maintaining and operating the Project; and (viii) an amount equal to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant five percent (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (305%) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two (2) years from the date of the annual statement to which the receipts apply, Landlord’s accounting and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthprocessing services.

Appears in 2 contracts

Samples: Entire Agreement (Southwall Technologies Inc /De/), Entire Agreement (Southwall Technologies Inc /De/)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). TenantLessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Two Thousand Eight Hundred Seventy One Dollars ($2,871), said sum representing Lessee’s pro rata estimated monthly payment of Lessee’s percentage share of CAC (which as of the date of this Lease represents the insurance covered under Sections 6 A) and 6 B) and the two percent (2%) management fee set forth in this Section). Lessee, at Lessee’s cost, will be responsible for replacement of capital items, including but not limited to: HVAC units, parking lot (not including resealing and restriping which is 100%covered by the CAC), roof membrane replacement (not including the roof membrane maintenance which is covered by the CAC), roof decking, structural or insulation replacement as a result of water intrusion from failure of the roof membrane, elevator, and painting of building exterior (the “Capital Replacements”) during the Lease Term or any extension thereof by properly licensed and insured contractors using materials of equal or better quality that existed prior to the Capital Replacement. CAM consists It is understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of all municipal charges and taxes assessed against the real estate upon Lease Term, including a partial month. Lessee’s estimated monthly payment of CAC payable by Lessee during the calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (including municipal or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 120 days of the end of the calendar year and state-wide property tax assessmentsthe end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall pay to Lessor the amount of such deficiency within thirty (30) days. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefor, and insurance premiums for all insurance carried by the Landlord Lessee shall revise its monthly payments accordingly. Lessor’s and Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease term)Term or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. To Lessee shall have the extent right, at any time within one hundred eighty (180) days after Lessee’s receipt of any such statement to audit Lessor’s books and records regarding CAC. If such audit shows that Lessee has paid less than its actual CAM exceeds the estimated CAMpercentage of CAC, Tenant then Lessee shall pay to Lessor the difference to Landlord amount of such deficiency within thirty (30) days days. If such audit shows that Lessee has paid more than its actual percentage of CAC, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. In addition, if such audit shows that Lessee has overpaid CAC by more than ten percent (10%) of the date CAC actually payable by Lessee, then Lessor shall pay the statement is delivered to Tenantout of pocket cost of Lessee’s audit. Landlord will preserve Lessee’s audit shall take place at the Lessor’s business office where the records are kept at a date and time mutually agreed to by the parties. As used in this Lease, CAC shall include the reasonable costs actually incurred by Lessor for the following: (i) the repair and maintenance of the actual CAM Premises under Section 5(b), the premiums for Lessor’s insurance under Sections 6 A) and 6 B) and the deductible thereunder (not to exceed $10,000 per occurrence), Taxes under Section 16, and the amount described in Section 31 for earthquake insurance; (ii) costs of supplies, materials, equipment and tools used and required in connection with the operation and maintenance of the Premises; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Tenant for Lessor in directly maintaining and operating the Premises; and (v) costs to comply with government regulations imposed on the Premisesafter the Commencement Date and not related to Lessee’s particular use and occupancy of the Premises; and (vi) an amount equal to two percent (2%) years from the date of the annual statement base rent and CAC (to which the receipts applyextent that the Lessee elects to take direct control of the CAC as provided in Section 5(b), the management fee will only be calculated using the base rent and Tenant the CAC that is managed directly by Lessor), as compensation for Lessor’s accounting and management services. Lessee shall have the right to inspect such records. For review the first year of basis and computation analysis used to derive the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 2 contracts

Samples: Agreement for Purchase and Sale of Real Property (Sipex Corp), Settlement Agreement and Release (Sipex Corp)

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect In addition to the real estate rental and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are other charges herein provided to be paid by Tenant Lessee to Lessor, Lessee shall pay to Lessor, as additional rent and as Lessee’s share of the cost of maintaining, operating, repairing and managing the Project, Lessee’s proportionate share (e.g.as defined in Section 12) of the Total Common Area Charges (as hereinafter defined) for any calendar year during the Term (the “CAM Amount”). Lessee shall pay Lessor in advance its monthly estimated proportionate share (as described in Section 12) of the CAM Amount, at together with all applicable rental taxes due thereon, within ten (10) days after receipt of an invoice from Lessor setting forth Lessor’s estimate of such amount. Within ninety (90) days following the end of each calendar year during the Lease term)Term or as soon thereafter as is Please Initial: Lessor ¨ Lessee ¨ reasonably possible, Lessor shall furnish Lessee with a statement of all Total Common Area Charges for the Project for the previous calendar year indicating the computation of Lessee’s proportionate share of the CAM Amount for such calendar year and the payments made by Lessee during such calendar year. To If Lessee’s aggregate estimated monthly payments actually paid to Lessor for the extent actual calendar year are greater than Lessee’s proportionate share of the CAM exceeds Amount for such calendar year, Lessor shall promptly pay the estimated CAMexcess to Lessee or shall apply the excess to any past due amounts owing from Lessee to Lessor; if the payments made are less than Lessee’s proportionate share, Tenant Lessee shall pay the difference to Landlord Lessor within thirty ten (3010) days of its receipt of such statement. Total Common Area Charges shall consist of all costs and expenses of every type associated with the date the statement is delivered to Tenant. Landlord will preserve the records management, repair, maintenance, and insuring of the actual CAM Common Areas including, without limitation, costs and expenses for inspection the following: gardening and landscaping; utilities, water and sewer charges; premiums for liability, property damage and casualty insurance and xxxxxxx’x compensation insurance; all personal property taxes levied on or attributable to personal property used in connection with the Common Areas; straight line depreciation on personal property owned by Tenant for two (2) years from Lessor which is consumed in the date operation or maintenance of the Common Areas; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Common Areas; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, refuse removal, security and similar items; repair and maintenance of exterior roofs and reserves for roof replacement and exterior painting of the Project and other appropriate reserves; and fees paid to property managers. Said Total Common Area Charges shall further include all charges for semi-annual statement preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which is attributable to which the receipts applyProject, and Tenant shall have the right to inspect such records. For the first year cost of lighting, maintenance and repair of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthProject identification signs.

Appears in 2 contracts

Samples: HTG Molecular Diagnostics, Inc, HTG Molecular Diagnostics, Inc

Common Area Charges. Tenant shall paypay to Landlord, as Additional ------------------- Rent, within ten (10) days after receipt of billing (together with reasonable back-up information) upon demand but not more often than once each calendar month, an amount equal to Tenant’s pro rata share 's Pro Rata Share of the real estate taxes Common Area Charges as defined in Subparagraph 7.B and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists Paragraphs 9, 11, 13 and 36 of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are locatedthis Lease. Tenant acknowledges and agrees that the Common Area Charges shall include an additional five percent (5%) of the actual expenditures in order to compensate Landlord for accounting, management and processing services. Provided Tenant notifies Landlord within six (6) months after receipt of a detailed statement of Tenant's Pro Rata Share of the Common Area Charges that Tenant disputes such statements received from Landlord, Tenant or its CPA (as defined below) shall have the right right, at Tenant's sole cost and expense, provided Tenant utilizes a Certified Public Accountant (the "CPA") compensated on an hourly basis, upon at least thirty (30) days prior notice to contest Landlord at any time during regular business hours to audit, review and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost photocopy Landlord's records pertaining to LandlordCommon Area Charges for the immediately previous calendar year only. Tenant agrees to keep all information thereby obtained by Tenant confidential. If such audit reveals that Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by has overcharged Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM amount overcharged shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and credited to Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord 's account within thirty (30) days after the audit is concluded. Notwithstanding anything to the contrary contained in this Lease, Common Area Charges shall not include any of the date following: (i) legal fees incurred in Lease preparations; (ii) costs for which Landlord receives reimbursement from insurance; (iii) bad debt or rent loss; (iv) reserves for loss, interest or penalties resulting from Landlord's negligence; (v) costs associated with the statement is delivered to Tenant. Landlord will preserve operation of Landlord's off-site business premises (except for the records five (5) percent administrative fee permitted above); (vi) advertising and leasing costs; (vii) costs incurred as a result of the actual CAM active negligence or willful misconduct or violation of law by Landlord or its Agents; (viii) costs for inspection by Tenant for two which Landlord obtains reimbursement from others; (2ix) years fees, commissions, attorneys fees, costs or other disbursements incurred in connection with negotiations or disputes with any other occupant of the Buildings, if any, and costs arising from the date violation by Landlord of the annual statement terms and conditions of any lease or other agreement; (x) depreciation, amortization or other expense reserves; (xi) costs and expenses for which Tenant reimburses Landlord directly or which Tenant pays directly to which a third person; (xii) costs in the receipts applynature of management or administrative fees or expenses, and Tenant shall have other than the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars five ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,1665) per monthpercent administrative fee described in this Paragraph 12.

Appears in 1 contract

Samples: Lease Agreement (Cybersource Corp)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to nineteen and seventy-five one hundredths percent (19.75%) of the total common area charges as defined below. Tenant's percentage share of common area charges is determined by the square footage of the Premises (17,470 square feet) divided by the total square footage of the Project (88,450 square feet). Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4 (b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4 (b) of this lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter) , Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such excess amount due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant’s pro rata . Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord's and Tenant's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. "Common area charges," as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year required to be made by Landlord to the Common Area pursuant to this lease or that Landlord may have installed for the purpose of reducing operating costs and/or to comply all laws, rules and regulations of federal, state, county, municipal and other governmental authorities now or hereinafter in effect (Tenant's share of any such capital improvement shall equal Tenant's proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement and insurance premiums described below for Landlord’s Building the determination of what constitutes a capital improvement and the useful life thereof shall be reasonably made by Landlord in accordance with generally accepted accounting principles); (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges iii) salaries and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project; (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; and (vii) all other reasonable operating costs incurred by Landlord reasonably incurred to obtain in maintaining and operating the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthProject.

Appears in 1 contract

Samples: Work Letter Agreement (Integrated Sensor Solutions Inc)

Common Area Charges. Tenant shall payCommencing with the Rental Commencement Date and thereafter during the Term hereof, Lessee will pay to Lessor, as Additional Rentadditional rent, Tenant’s pro rata share an annual amount, without deduction or setoff, equal to such proportion of "Lessor's Operating Cost of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists Common Areas" as the Floor Area of all municipal charges and taxes assessed against the real estate upon which the Demised Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect bears to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included total floor space leasable in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refundShopping Center. For the convenience purposes of this Section 2.7, "Lessor's Operating Cost of the LandlordCommon Areas" is defined as including all of Lessor's costs and expenses of operating and maintaining the Common Areas in the Shopping Center, CAM and shall be deemed to include, without limitation, landscaping, sanitary control, cleaning, utilities, snow removal, resurfacing, painting, fire protection, security, traffic control, repairs, policing and Lessor's overhead expenses for administering same in an amount not to exceed fifteen percent (15%) of the total of such costs. The annual charge shall be computed on the basis of periods of twelve (12) consecutive calendar months as designated by Lessor, and shall be paid by Lessee in monthly equal installments due and payable at in advance on the time first day of each calendar month in an amount reasonably estimated by Lessor. For any period within the payment of Minimum Rent. Landlord shall determine Term which is less than a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each full year, Landlord the annual charge shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAMbe appropriately prorated. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant Within sixty (e.g., at 60) days after the end of each such twelve (12) month period, Lessor will furnish to Lessee a statement showing in reasonable detail the Lease term)amount of Lessor's operating costs for the preceding period, any necessary adjustments shall thereupon be made, and the monthly payments to be made by Lessee for the ensuing year shall be estimated accordingly. To the extent actual CAM exceeds the estimated CAMChanges in applicable Floor Areas shall result in corresponding pro rata adjustments. Subject to adjustment as herein contemplated, Tenant Lessee shall pay Lessor in advance on the difference first day of each calendar month as an initial estimate of Lessee's share of Common Area charges the amount equal to Landlord within thirty 1/12 of an amount computed by multiplying the annual rate of approximately eighty cents (30$0.80) days times the total square feet of Floor Area of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthDemised Premises.

Appears in 1 contract

Samples: Center Lease (Futurus Financial Services Inc)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of One Thousand One Hundred and Sixty-Five Dollars ($1,165.00), said sum representing Lessee’s estimated monthly payment of Lessee’s percentage share of CAC and includes a fixed monthly sum of One Hundred and Fifty Dollars ($150.00) which represents the long term capital reserve for replacement of HVAC units, parking lot, roof and painting of building exterior (“Capital Reserves”). TenantIt is understood and agreed that Lessee’s pro rata share is 100%obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term and adjusted based on the square footage occupied. CAM consists Lessee’s estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within approximately 120 days of the end of the calendar year and the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred including municipal capital reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefor, and state-wide property tax assessments) Lessee shall revise its monthly payments accordingly. Lessor’s and insurance premiums for all insurance carried by the Landlord Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease termTerm or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. As used in this Lease, CAC shall include but is not limited to: (i) items as specified in Sections 5(b). To , 6, 16 and 31; (ii) all costs and expenses including but not limited to supplies, materials, equipment and tools used or required in connection with the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days operation and maintenance of the date Premises, Building and Common Area; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Lessor in maintaining and operating the statement is delivered Premises, Building and Common Area; (v) Capital Reserves replacements and government regulations imposed on the Premises, Building and Common Area not related to Tenant. Landlord will preserve the records Lessee’s use and occupancy of the actual CAM Premises; and (vi) an amount equal to $.02 per square foot, as compensation for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, Lessor’s accounting and Tenant management services. Lessee shall have the right to inspect such records. For review the first year of basis and computation analysis used to derive the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 1 contract

Samples: Occam Networks Inc/De

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to forty-one and three one hundredths percent (41.03%) of the total common area charges as defined below. Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant’s pro rata . Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord's and Tenant's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. "Common area charges," as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant's share of any such capital improvement shall equal Tenant's proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project: (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; (vii) all other operating costs incurred by Landlord reasonably incurred in maintaining and operating the Project; and (viii) an amount equal to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant five percent (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (305%) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two Landlord's accounting and processing services. Notwithstanding the foregoing, common area charges shall not include any management fees other than the fee (2equal to five percent (5%) years from of the cost of all other common area charges) as compensation for Landlord's accounting and processing services which is specifically referenced herein. In addition, common area charges shall not include (i) the cost of maintenance and repair of structural elements of the Premises excluding the roof and exterior walls or (ii) the cost of bringing the Premises into compliance with laws, statutes, ordinances and governmental rules, regulations or requirements (except for the Americans with Disabilities Act ), as in effect at the execution date of the annual statement to which the receipts apply, and Tenant this lease as described in paragraph 7 of this lease. Capital improvements with an estimated useful life in excess of one (1) year shall have the right to inspect such records. For the first year be amortized as provided in paragraph 56 of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis lease.

Appears in 1 contract

Samples: Lease (Monolithic System Technology Inc)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to 17.40% of the total common area charges as defined below. Tenant’s percentage share of common area charges shall be paid as follows: Tenant’s estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this Lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant’s monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of this Lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this Lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year, which statement shall be certified as being accurate to the actual knowledge of an officer of Landlord’s management company. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall pay to Landlord the amount of such deficiency within ten (10) days after receipt of the statement. If Tenant fails to pay the deficiency within such ten (10) day period, Tenant shall pay an additional five percent (5%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall credit the amount of such excess to Tenant’s pro rata percentage share of common area charges next becoming due under the real estate taxes Lease, or if the Lease has terminated, return such excess to Tenant concurrently with delivery of the statement. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of ten percent (10%) from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and insurance premiums described below for LandlordTenant shall revise its payments accordingly. Xxxxxxxx’s Building (“CAM”). Tenantand Xxxxxx’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord obligation with respect to adjustments at the real estate and end of the building within which term or earlier expiration of this Lease shall survive such termination or expiration. Within ninety (90) days after receipt of the Premises are located. statement of actual common area charges for the prior calendar year described above or any other demand by Landlord for reimbursement pursuant to this Lease, Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxesrequest in writing from Landlord, and Landlord shall cooperate with provide, reasonable “backup” documentation, including copies of invoices, substantiating any common area charge or requested reimbursement. Tenant shall have no right, pending the receipt of any documentation, to withhold any payment of the common area charges or any other amount actually owed by Tenant under this Lease. “Common area charges,” as used in this Lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital repairs, replacements, improvements or alterations having a useful life greater than one (1) year (any such efforts capital repair, replacement, improvement or alteration being a “Capital Expenditure”) as Landlord may have performed or installed for the purpose of reducing operating costs and/or to comply with all laws, rules and regulations of federal, state, county, municipal and other governmental authorities now or hereinafter in effect, such Capital Expenditure(s) to be amortized over the useful life of the Capital Expenditure(s) in question with interest thereon at no cost to Landlord. If Landlord receives a refund five percent (5%) (and Tenant shall pay its percentage share of the monthly amortized portion of any portion such Capital Expenditure(s) during the remaining term of real estate taxes that were included this Lease (plus any option term and/or other extension(s) of the term of this Lease)); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the real estate operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes paid applicable thereto; (iv) supplies, materials, non-capital equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; and (vi) all other operating costs incurred by Landlord in maintaining and operating the Project. Notwithstanding the foregoing, common area charges shall not include and, subject to the third (3rd) subparagraph of paragraph 11 hereof, no other provision of this Lease shall impose upon Tenant a requirement to pay directly or reimburse Landlord for any of the following: (a) costs occasioned by casualties (except that Tenant shall pay Tenant’s percentage share of any deductible applicable to casualty insurance (which percentage share shall not exceed Ten Thousand Dollars ($10,000))) or by the exercise of the power of eminent domain by a public or quasi-public authority; (b) management fees or accounting fees or the cost of any on-site or off-site management personnel; (c) costs incurred to repair latent construction defects in the Premises not resulting from Alterations or Permitted Alterations performed by or on behalf of Tenant; (d) costs incurred by Landlord arising from claims, disputes or potential disputes between Landlord and individual tenants in the Project or any other third person with respect to the Project; (e) marketing and promotional costs, leasing commissions or fees in lieu of commissions or other costs incurred in procuring tenants, lenders or buyers; (f) costs occasioned by the intentional act or violation of law, rule, regulation, covenant, condition, restriction or fire underwriter’s requirement by Landlord, any other occupant of the Project, or their respective agents, employees or contractors; (g) costs to replace any underground utilities from the street to the Project or replacements of the structural elements of the Project; (h) any taxes which are separately assessed to another tenant of the Project as a result of such tenant’s over-standard improvements; (i) estate, inheritance, transfer, gift, or franchise taxes of Landlord or any federal or state income tax on income from all sources (except a tax on rent); (j) depreciation or other expense reserves; (k) interest, charges and fees incurred on debt, payments on mortgages and rent under ground leases; (l) costs of sculptures, fountains, paintings and other art objects; (m) costs incurred with respect to any Hazardous Materials (except to the extent the Hazardous Material was introduced to the Premises by Tenant, then its subtenants or assigns, or their respective employees, agents or contractors); (n) the cost of repairs, replacements and general maintenance to the extent Landlord receives reimbursement for such costs in the same calendar year as incurred from insurance proceeds, warranties, guaranties or third parties (provided, however, if any such reimbursement is not received in the calendar year when such expense was incurred, the reimbursement shall be applied to common area charges for the calendar year in which such reimbursement is received (and, if the Lease has terminated, Landlord shall reimburse Tenant for its pro rata percentage share of any such reimbursement on the refunded taxes, less any non-reimbursed expenses later of (A) the date Landlord delivers the statement described in the second (2nd) subparagraph of this paragraph 16 or (B) the date that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within is thirty (30) days after the date Landlord receives such reimbursement)); and (o) insurance premiums in excess of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection premiums reimbursable by Tenant for two (2) years from the date pursuant to paragraph 11 of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease.

Appears in 1 contract

Samples: Lease (Hemosense Inc)

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect In addition to the real estate rental and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are other charges herein provided to be paid by Tenant (e.g.Lessee to Lessor, at the end Lessee shall pay to Lessor, as additional rent and as Xxxxxx's share of the Lease termcost of maintaining, operating, repairing and managing the Project. Lessee shall pay Lessor in advance on the 1st of the month as its share as follows: Months 01-24 $146.16 Total Common Area Charges shall consist of all costs and expenses of every type associated with the management, repair, maintenance, and insuring of the Common Areas including without limitation, costs and expenses for the following: gardening and landscaping; utilities, water and sewer charges: premiums for liability, property damage and casualty, worker's compensation and other insurance as required by Lessor or its lenders; all personal property taxes levied on or attributable to personal property used in connection with the Common Areas; straight line depreciation on personal property owned by Lessor which is consumed in the operation or maintenance of the Common Areas; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Common Areas; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaving, maintaining the parking lots; painting, lighting, cleaning, refuse removal, security and similar items; repair and maintenance of exterior roofs and reserves for roof replacement and exterior painting of the Project and other appropriate reserves, fees paid to property managers (including, without limitation, an amount equal to the fair rental value of any on-site manager's office). To ; amortization of capital expenses, including financing costs if (i) required by a governmental entity for energy conservation, life safety, ADA, or environmental purposes, or (ii) made by Lessor to reduce Total Common Area Charges; compensation (including employment taxes and fringe benefits) of all persons who perform duties connected with the operation, maintenance, repair or overhaul of the Project, but only to the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date time performed working on the statement is delivered Project; and other similar costs and expenses relating to Tenant. Landlord will preserve the records Common Areas, Said Total Common Area Charges shall further include all charges for utilities supplied to the Premises and to other tenants of the actual CAM Project which are not separately metered, all charges for inspection by Tenant for two (2) years from regular preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which serves the date Common Areas, the cost of lighting, maintenance and repair of the annual statement Project identification signs, all charges for repair and maintenance of mechanical equipment, including, without limitation, heating, ventilating and air conditioning equipment, which is attributable to which the receipts applyProject, and Tenant shall have the right to inspect such records. For cost of repairing and maintaining the first year of plumbing, electrical and other off-Premises facilities serving the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), Premises or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththe Project.

Appears in 1 contract

Samples: On Site Sourcing Inc

Common Area Charges. Tenant shall pay to Landlord, as additional ------------------- rent, an amount equal to twenty-three and forty-seven one hundredths percent (23.47%) of the total common area charges as defined below. Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, Tenant’s pro rata on the first day of each month during the term in accordance with paragraph 4(b) of this lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the real estate taxes end of each calendar year and insurance premiums described below of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such excess amount due within thirty (30) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant. Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of ten percent (10%) from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord’s Building (“CAM”). 's and Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord 's obligation with respect to adjustments at the real estate and end of the building within which term or earlier expiration of this lease shall survive such termination or expiration. Within one hundred twenty (120) days after receipt of the Premises are located. itemized statement of actual common area charges for the prior calendar year, Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and request in writing from Landlord shall cooperate with further documentation substantiating any such efforts at no cost to Landlordactual common area charge. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each yearmakes such written request, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with copies of invoices or other evidence of the common area charge in question. Tenant's failure to request such further backup documentation within the one hundred twenty (120) day period referenced above shall be deemed a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid waiver by Tenant (e.g., at the end of the Lease term)right to request any documentation. To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have no right, pending the right receipt of any documentation, to inspect such records. For the first year withhold any payment of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), common area charges or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthany other amount owed by Tenant under this Lease.

Appears in 1 contract

Samples: Lease (Atmi Inc)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to One Hundred percent (100.00%) of the total common area charges as defined below. Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant’s pro rata . Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord's and Tenant's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. 18 "Xxxxxx xxxx xxxxxxx," xs used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant's share of any such capital improvement shall equal Tenant's proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project: (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; (vii) all other operating costs incurred by Landlord reasonably incurred in maintaining and operating the Project; and (viii) an amount equal to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant five percent (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (305%) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two (2) years from the date of the annual statement to which the receipts apply, Landlord's accounting and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthprocessing services.

Appears in 1 contract

Samples: Entire Agreement (Medibuy Com Inc)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect an amount equal to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience total common area charges of the LandlordProject and one hundred percent (100%) of the total common area charges for the Building (the common area charges for the Project and the common area charges for the building collectively referred to herein as ("CAC")). Lessee shall pay to Lessor as Rent, CAM on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Sixteen Thousand Five Hundred Dollars ($16,500), said sum representing Lessee's estimated monthly payment of Lessee's percentage share of CAC. It is understood and agreed that Lessee's obligation under this paragraph shall be paid in monthly installments due prorated to reflect the Commencement Date and payable at the time end of the Lease Term. Upon execution of this Lease, Lessee shall deposit with Lessor the first month's estimated CAC. Lessee's estimated monthly payment of Minimum CAC payable by Lessee during the calendar year in which the Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee's estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Landlord Within 120 days of the end of the calendar year and the end of the Lease Term, Lessor shall determine provide Lessee a reasonable statement of actual CAC incurred including capital reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of 2 such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the CAM and actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall advise Tenant provide a revised estimate to Lessee, together with an explanation of the estimated amount of CAM reasons therefor, and Tenant’s pro rata share of CAMLessee shall revise its monthly payments accordingly. Not less frequently than once each year, Landlord shall compare the actual expense for CAM Lessor's and Lessee's obligation with respect to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease termTerm or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. As used in this Lease, CAC shall include but are not limited to, (i) items specified as CAC items in Paragraphs 5(b). To , 6, 9, 16 and 31; (ii) utility costs related to the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days common areas of the date Project (the statement "Project" is delivered shown on Exhibit A.2) (iii) all costs and expenses including but not limited to Tenant. Landlord will preserve supplies, materials, equipment and tools used or required in connection with the records operation and maintenance of the actual CAM Project; (iv) licenses, permits and inspection fees; (v) all other costs incurred by Lessor in maintaining and operating the Project; (vi) all reserves for inspection by Tenant for capital replacements; and (vii) an amount equal to two and one-half percent (22.5%) years from the date of the annual statement to which the receipts applyaggregate of all CAC, as compensation for Lessor's accounting and Tenant processing services. Lessee shall have the right to inspect such records. For review the first year of the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 1 contract

Samples: On Command Corp

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to fifty and ten one hundredths percent (50.10%) of the total common area charges as defined below. Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the common area charge next becoming due from Tenant’s pro rata . Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord's and Tenant's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. "Common area charges," as used in this lease, shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with governmental rules and regulations promulgated after completion of the building (Tenant's share of any such capital improvement shall equal Tenant's proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project: (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; (vii) all other operating costs incurred by Landlord reasonably incurred in maintaining and operating the Project; and (viii) an amount equal to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant five percent (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (305%) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two (2) years from the date of the annual statement to which the receipts apply, Landlord's accounting and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthprocessing services.

Appears in 1 contract

Samples: Entire Agreement (Omnisky Corp)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to 28.7% (29,424 [divided by] 102,528 square feet) of the total Common Area Charges as defined in this lease. Tenant further agrees that Common Area Charges shall include an additional 5% of the actual expenditures for the aggregate of all other Common Area Charges in order to compensate Landlord for accounting and processing services. Tenant's percentage share of Common Area Charges shall be paid as follows: At or prior to the commencement of the term and to the commencement of each calendar year of the term, Landlord shall deliver to Tenant a written estimate of total Common Area Charges during the balance of the calendar year in which the term commences and each succeeding calendar year, respectively. Tenant shall pay, as Additional Rentadditional rent, Tenant’s pro rata on the first day of each month during the calendar year (or portion thereof) covered by such estimate, its percentage months share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”)Common Area Charges as shown on such estimate. Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within Within thirty (30) days of the date end of each calendar year and of the end of the term, Landlord shall deliver to Tenant a statement is delivered of actual Common Area Charges incurred for the preceding year, or, in the case of a statement after the end of the term, covering the year in which the lease terminates. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If such statement shows that Tenant has paid more than its percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant. Landlord will preserve reserves the records right to revise any estimate of Common Area Charges if actual or projected Common Area Charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts applyreasons therefor, and Tenant shall have revise its payments accordingly. Landlord's and Tenant's obligations with respect to adjustments at the right to inspect such records. For the first year end of the Termterm of this lease shall survive such termination. Landlord shall allow Tenant reasonable access to Landlord's books and records respecting Common Area Charges. Tenant shall be entitled to cause a certified public accountant to perform an audit of the statement of actual Common Area Charges for the preceding year, CAM and in the event such audit shall establish that the amount shown on such statement overstates by more than two percent (2%) the amount Tenant is estimated liable for then Landlord shall promptly reimburse to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars Tenant any sums overpaid by Tenant, together with interest on the overpaid amounts at the rate of ten percent ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,16610%) per monthannum and the cost of such audit. In the event such audit shall not establish such overstatement, Tenant shall pay the entire cost of such audit.

Appears in 1 contract

Samples: Lease (Novellus Systems Inc)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to fifty-five and 52/100 percent (55.52%) of the total common area charges as defined below. Tenant's percentage share of common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in which the term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the term (or as soon as practicable thereafter), Landlord shall deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as Additional Rentadditional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual common area charges incurred for the preceding year. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant’s pro rata . Landlord reserves the right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments accordingly. Landlord's and Tenant's obligation with respect to adjustments at the end of the term or earlier expiration of this lease shall survive such termination or expiration. As used in this lease, "common area charges" shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the purpose of reducing operating costs and/or to comply with all laws, rules and regulations of federal, state, county, municipal and other governmental authorities now or hereinafter in effect (Tenant's share of any such capital improvement shall equal Tenant's proportionate share of the real estate taxes fraction of the cost of such capital improvement equal to the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located employee benefits (including municipal union benefits) of personnel engaged in the operation and state-wide property tax assessments) and insurance premiums for all insurance carried by maintenance of the Landlord with respect to the real estate and Project (or the building within in which the Premises are located. Tenant shall have ) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the right to contest operation and seek abatement and/or reduction maintenance of real estate taxesthe Project; (v) licenses, permits and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives inspection fees; (vi) a refund reasonable reserve for repairs and replacement of any portion of real estate taxes that were included equipment used in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share maintenance and operation of the refunded taxes, less any non-reimbursed expenses that Project; (vii) all other operating costs incurred by Landlord reasonably incurred in maintaining and operating the Project; and (viii) an amount equal to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant five percent (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (305%) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two (2) years from the date of the annual statement to which the receipts apply, Landlord's accounting and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthprocessing services.

Appears in 1 contract

Samples: Entire Agreement (Novacept Inc)

Common Area Charges. Tenant Lessor shall payarrange and pay the contractors for maintenance of the Common Areas including snow plowing and landscaping and maintenance of exterior structural items such as the roof and parking areas, with all of same to be charged back the Lessee as a Common Area Maintenance charge. Lessor shall, in advance of the first day of each month, remit an invoice to Lessee for all such Additional Rent items to include the monthly charge for taxes, insurance and CAM. Monthly charges shall initially be paid based upon Lessor's estimation of expenses which at present are $3.52 per square foot (i.e., $8,037.33 per month). If, during any particular Lease Year, there is a change in the information on which Lessor based the estimate upon which Lessee is then making its payment so that such statement furnished to Lessee is no longer accurate, Lessor shall be permitted as reasonably necessary to revise such statements by notifying Lessee, and there shall be such adjustments made in the Additional Rent on the first day of the month following the serving of such statement on Lessee as shall be necessary by either increasing or decreasing, as the case may be, the amount of Additional Rent then being paid by Lessee for the balance of the Lease Year (but in no event shall any such decrease result in a reduction of the Rent below the Monthly Rent plus all other actual amounts of Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges Lessor's and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord Lessee's responsibilities with respect to the real estate and the building within which the Premises are located. Tenant Additional Rent described herein shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant survive for two (2) years from after the date expiration or early termination of this Lease. Within 120 days following the annual conclusion of each Calendar Year (or within 90 days following the termination of this Lease) Lessor will deliver a statement to which Lessee detailing the receipts apply, actual charges incurred during the prior Calendar Year ("Final Statement") and Tenant the monthly statement will be adjusted to reflect such actual charges. Lessee shall have the right to inspect such records. For review the first year books and records of Lessor relating only to expenses shown on the itemized statement provided said review request is made within six months after receipt of the TermFinal Statement. Failure to request a timely review shall be deemed a waiver of this right for all time. If an error of greater than 10% is disclosed by the audit, CAM is estimated then Lessor agrees to reimburse Lessee's reasonable cost to audit, no to exceed $5,000. In the event Lessee's review demonstrates an error in Lessor's Final Statement, an appropriate adjustment will be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), made on the next monthly statement or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthLessor shall reimburse Lessee if the Lease has expired or terminated.

Appears in 1 contract

Samples: Lease Agreement (Vyteris Holdings (Nevada), Inc.)

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Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal In addition to any other charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are herein provided to be paid by Tenant Lessee to Lessor, Lessee shall pay to Lessor, as additional Rent and as Lessee’s share of the cost of maintaining, operating, repairing and managing the Project, Lxxxxx’s proportionate share (e.g.as calculated in the manner described in Section 12) of the Total Common Area Charges (as hereinafter defined) for any calendar year during the Term (the “CAM Amount”). Lessee shall pay Lessor in advance its monthly estimated proportionate share (as calculated in the manner described in Section 12) of the Total Common Area Charges, together with all applicable rental taxes due thereon, at the same time as Lessee pays Monthly Base Rent, or if no Monthly Base Rent is due, within 15 days after receipt of an invoice from Lessor setting forth Lessor’s estimate of such amount. Within 90 days following the end of each calendar year during the Lease term)Term or as soon thereafter as is reasonably possible, Lessor shall furnish Lessee with a statement of all Total Common Area Charges for the Project for the previous calendar year indicating the computation of Lessee’s proportionate share of the Total Common Area Charges for such calendar year and the payments made by Lessee during such calendar year. To If Lxxxxx’s aggregate estimated monthly payments actually paid to Lessor for the extent actual CAM exceeds calendar year are greater than Lessee’s proportionate share of the estimated CAMTotal Common Area Charges for such calendar year, Tenant Lessor shall apply the excess to any past due amounts owing from Lessee to Lessor or, in the event no such past due amounts are then owing, Lessor shall credit such excess to amounts to become due from Lessee under this Section 11. If the payments made are less than Lessee’s proportionate share, Lessee shall pay the difference to Landlord Lessor within 30 days of its receipt of such statement. “Total Common Area Charges” shall consist of all customary costs and expenses of every type associated with the management, repair, maintenance, and insuring of the Project during the Term including, without limitation, costs and expenses for the following: gardening and landscaping; utilities, water and sewer charges; actual premiums for liability, property damage and casualty, wxxxxxx’x compensation and other insurance as required by Lessor or its lenders; all personal property taxes levied on or attributable to personal property used in connection with the Project; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Project; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, janitorial, refuse removal, security and similar items; repair and maintenance of exterior roofs and reserves for roof replacement and exterior painting of the Project and other appropriate reserves; fees paid to property managers; amortization of capital expenses, including financing costs if (i) required by a governmental entity for energy conservation, life safety, ADA, or environmental purposes, (ii) reasonably made by Lessor to reduce Total Common Area Charges, or (iii) the replacement of the HVAC systems under Section 7.2 above, the cost of which capital expenses shall be reasonably amortized by Lessor over the useful life of the improvement, in accordance with generally accepted accounting principles; compensation (including employment taxes and fringe benefits) of all persons who perform duties connected with the operation, maintenance, repair or overhaul of the Project, but only to the extent of the time performed working on the Project; and other similar costs and expenses relating to the operation and maintenance of the Project. Said Total Common Area Charges shall further include all charges for utilities supplied to the Premises and to other Lessees of the Project which are not separately metered, all charges for regular preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which serves the Common Areas, the cost of lighting, maintenance and repair of the Project identification signs, all charges for repair and maintenance of mechanical equipment, including, without limitation, heating, ventilating and air conditioning equipment which is attributable to the Project, and the cost of repairing and maintaining the plumbing, electrical and other off-Premises facilities serving the Premises or the Project. The Total Common Area Charges will also include an administrative fee equal to 4% of all other common area charges for the Project under this Lease, the Insurance Amount and the Real Property Taxes. Common Area Charges shall not include interest, amortization or other payments on loans required to be paid by Lessor; leasing commissions; income, excess profits or franchise taxes or other such taxes imposed on or measured by the income of Lessor from the operation of the Premises or the Project; the cost of providing tenant improvements to any tenants or the cost of renovating space leased to new tenants or space vacated by any tenant; goods or materials provided to any tenant for which separate charge to such tenant is made; advertising costs incurred in renting space in the Building or Project; any costs or expenses for which Lessor is or will otherwise be reimbursed or indemnified (whether by an insurer, condemnor, tenant or otherwise); overhead and administrative costs of Lessor not directly incurred in the operation and maintenance of the Project; depreciation or amortization of the Building or its contents or components; expenses for repairs or other work the cost of which is covered by insurance carried by Lessor or required to be carried by Lessor hereunder; expenses in addition to leasing commissions incurred in leasing or obtaining new tenants or retaining existing tenants, including legal expenses, entertaining or promotion; interest, amortization or other costs, including legal fees, associated with any mortgage, loan or refinancing of the Project or any interest of Lessor in the Project; transfer or recordation taxes and other charges in connection with the transfer of ownership in the Building, or land trust fees; expenses incurred for any necessary replacement of any item to the extent that it is covered under warranty, provided the warranty is honored; the cost of any item or service for which Lessee separately reimburses Lessor, or which Lessor provides selectively to one or more tenants of the Project, other than Lessee, whether or not Lessor is reimbursed by such other tenant(s); legal fees relating to the ownership, construction, leasing, sale of or relating to any litigation in any way involving the Project, or to the enforcement of the terms of any lease; any interest or penalty incurred due to the late payment of any operating expense and/or real estate tax; the cost of any penalty or fine incurred for noncompliance with any applicable building or fire code or any other applicable law relating to the Project, any personal property taxes of the Lessor for equipment or items not used directly in the operation or maintenance of the Project, nor connected therewith; Lessor’s general office expenses, and expenses for travel, entertainment, gifts, dues, subscriptions, memberships, tuition, seminars, errors and omissions insurance, automobile allowances, and charitable or political donations, provided that in no event shall the payroll, payroll related and other expenses related to any employees of Lessor above the building manager or equivalent operational level or not working full-time on the management or operation of the Project be included in Common Area Charges, and further provided that such expenses of part-time workers may be included if equitably allocated to reflect actual time spent on the Project; the cost of overtime or other expense to Lessor in performing work expressly provided in this Lease to be borne at Lessor’s expense; all bad debt loss, rent loss, or reserve for bad debt or rent loss; and any amount paid to an entity related to Lessor which exceed the amount that would have been paid for comparable goods or services in an arms-length transaction between unrelated parties in the greater Phoenix metropolitan area. Lessee shall have the right, at Lxxxxx’s cost, to audit Lessor’s books and records relating to Total Common Area Charges, Real Property Taxes and the Insurance Amount. Lessee shall provide not less than thirty (30) days’ prior written notice of its intent to audit. Lxxxxx’s right to audit Lessor’s books and records may be exercised no more than once per calendar year. Lxxxxx’s written notice of its intent to audit must be received by Lessor no later than 60 days after Lxxxxx’s receipt of the statement(s) from Lessor relating to Total Common Area Charges, Real Property Taxes and the Insurance Amount. Lessee shall provide the results of such audit to the Lessor immediately upon receipt by Lxxxxx. If such audit reveals that Lessor has over-charged Lxxxxx, then within thirty (30) days after the results of the date the statement is such audit are delivered to TenantLessor, Lessor shall reimburse to Lessee the amount of such over-charge. Landlord will preserve If such audit reveals that Lessor has under-charged Lxxxxx, then within thirty (30) days after the records results of such audit are delivered to Lessor, Lessee shall pay to Lessor the amount of such under-charge. Lessee agrees to pay the cost of such audit unless it is subsequently determined that Lxxxxx’s original statement(s) relating to Total Common Area Charges, Real Property Taxes and the Insurance Amount overstated such costs by five percent (5%) or more of the actual CAM Total Common Area Charges, Real Property Taxes and Insurance Amount verified by such audit, in which case Lessor shall reimburse Lessee for inspection by Tenant for two the reasonable cost of such audit (2) years but in no event shall such reimbursement exceed the amount the Total Common Area Charges, Real Property Taxes and the Insurance Amount were overstated). Lessee shall be specifically restricted and prohibited from the date engaging an auditor pursuant to this Section 11 on any sort of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eightyfee-Five Thousand Nine Hundred Ninetyfor-Two Dollars ($85,992), results or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthcontingent fee arrangement basis.

Appears in 1 contract

Samples: Work Letter Agreement (PLBY Group, Inc.)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided below, the sum of Nine Thousand Six Hundred Twelve Dollars ($9,612), said sum representing Lessee’s estimated monthly payment of Lessee’s percentage share of CAC and includes a fixed monthly sum of Fourteen Hundred Seven Dollars ($1,407.00) which represents the long term capital reserve for replacement of existing HVAC units, parking lot, roof and painting of building exterior (“Capital Reserves”). TenantIt is understood and agreed that Lessee’s pro rata share is 100%obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. CAM consists Lessee’s estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 120 days of the end of the calendar year and the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred including municipal Capital Reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefore, and state-wide property tax assessments) Lessee shall revise its monthly payments accordingly. Lessor’s and insurance premiums for all insurance carried by the Landlord Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease termTerm or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. As used in this Lease, CAC shall include but is not limited to: (i) items as specified in Sections 5(b). To , 6, 16 and 31; (ii) all costs and expenses including but not limited to supplies, materials, equipment and tools used or required in connection with the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days operation and maintenance of the date Premises; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Lessor in maintaining and operating the statement is delivered Premises; (v) Capital Reserves replacements and government regulations imposed on the Premises not related to Tenant. Landlord will preserve the records Lessee’s use and occupancy of the actual CAM Premises; and (vi) an amount equal to $.02 per square foot per month, as compensation for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, Lessor’s accounting and Tenant management services. Lessee shall have the right to inspect such records. For review the first year of basis and computation analysis used to derive the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 1 contract

Samples: MoSys, Inc.

Common Area Charges. Beginning on the Commencement Date, Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below common area maintenance charges for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%53.57% (i.e., 61,600 sq. ft. ÷ 115,000 sq. ft.). For the first year of the Lease, Tenant shall pay estimated CAM consists of in the amount of: Year CAM ($/SF) Monthly CAM Annual CAM 1 $0.75 $3,850.00 $46,200.00 CAM includes all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and ), insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. , all common utility costs such as costs for lighting, electricity, water, sewer, gas and other utility expenses charged to Landlord and not separately metered to Tenant, all common maintenance costs, including maintenance of and snow removal from the parking lot and walkways, rubbish removal for the building (except that Tenant shall have may be charged a reasonable surcharge for rubbish removal if its refuse exceeds the right to contest capacity allowed under the rubbish removal contract for Landlord’s Building), landscaping and seek abatement and/or reduction of real estate taxeslawn maintenance, parking lot maintenance, common signage, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord all other costs reasonably incurred by the Landlord in connection therewith including a reasonable management fee, but excluding legal fees, brokerage fees, accounting fees, leasing costs or advertising costs relating to obtain the refundleasing of additional spaces within Landlord’s Building and excluding any separately metered water, sewer or utility costs. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. For the second and third years of the Term, Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each yearyear during the second and third years of the Term, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent CAM payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term)Tenant. To the extent actual CAM in year 1 of the Term exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty twenty (3020) days of the date of the statement is delivered to Tenantstatement. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.

Appears in 1 contract

Samples: Lease Agreement (Northern Power Systems Corp.)

Common Area Charges. Tenant In addition to the rental and other charges herein provided to be paid by Lessee to Lessor for the Expansion Premises, Lessee shall paypay to Lessor, as Additional Rent, Tenantadditional rent and as Lessee’s pro rata share of the real estate taxes cost of maintaining, operating, repairing and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists managing the building of all municipal charges and taxes assessed against the real estate upon which the Premises are located a part, Xxxxxx’s proportionate share (including municipal and state-wide property tax assessmentsas defined in Paragraph 32) and insurance premiums of the Total Common Area Charges (the “CAM Amount”) (as hereinafter defined). Lessee shall pay Lessor in advance its monthly estimated proportionate share (as described in Paragraph 32) of the CAM Amount, together with all applicable rental taxes due thereon, within ten (10) days after receipt of an invoice from Lessor setting forth Lessor’s estimate of such amount. Within ninety (90) days following the end of each calendar year during the Term or as soon thereafter as is reasonably possible. Lessor shall furnish Lessee with a statement of all Total Common Area Charges for all insurance carried by the Landlord with respect to Project for the real estate and previous calendar year indicating the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction computation of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata Xxxxxx’s proportionate share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred CAM Amount for such calendar year and the payments made by Lessee during such calendar year. If Xxxxxx’s aggregate estimated monthly payments actually paid to obtain Lessor for the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate calendar year are greater than Lessee’s proportionate share of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each Amount for such calendar year, Landlord Lessor shall compare promptly pay the actual expense for CAM excess to Lessee or shall apply the estimated expenses and shall provide Tenant with a statement indicating whether excess to any past due amounts owing from Lessee to Lessor, if the estimated CAM was greater or payments made are less than the actual CAM. To the extent the actual CAM was less than the estimated CAMLessee’s proportionate share, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant Lessee shall pay the difference to Landlord Lessor within thirty ten (3010) days of its receipt of such statement. Total Common Area Charges shall consist of all costs and expenses of every type associated with the date the statement is delivered to Tenant. Landlord will preserve the records management, repair, maintenance, and insuring of the actual CAM Common Areas including, without limitation, costs and expenses for inspection the following: gardening and landscaping; utilities, water and sewer charges; premiums for liability, property damage and casualty insurance and xxxxxxx’x compensation insurance; all personal property taxes levied on or attributable to personal property used in connection with the Common Areas; straight line depreciation on personal property owned by Tenant for two (2) years from Lessor which is consumed in the date operation or maintenance of the Common Areas; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Common Areas; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaying, maintaining, painting, lighting, cleaning, refuse removal, security and similar items; repair and maintenance of exterior roofs and reserves for roof replacement and exterior painting of the Project and other appropriate reserves; fees paid to property managers; and other similar costs and expenses relating to the Common Areas. Said Total Common Area Charges shall further include all charges for semi-annual statement preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which is attributable to which the receipts applyProject, and Tenant shall have the right to inspect such records. For the first year cost of lighting, maintenance and repair of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthProject identification signs.

Appears in 1 contract

Samples: Basic Terms Sheet (Syncardia Systems Inc)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenant’s pro rata an amount equal to Lessee's prorata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAM”"CAC")). Tenant’s pro rata Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided below, the sum of Nine Thousand Six Hundred Twelve Dollars($9,612), said sum representing Lessee's estimated monthly payment of Lessee's percentage share of CAC and includes a fixed monthly sum of Fourteen Hundred Seven Dollars ($1,407.00) which represents the long term capital reserve for replacement of existing HVAC units, parking lot, roof and painting of building exterior ("Capital Reserves"). It is 100%understood and agreed that Lessee's obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. CAM consists Lessee's estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee's estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 120 days of the end of the calendar year and the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred including municipal Capital Reserves for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefore, and state-wide property tax assessments) Lessee shall revise its monthly payments accordingly. Lessor's and insurance premiums for all insurance carried by the Landlord Lessee's obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease termTerm or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. As used in this Lease, CAC shall include but is not limited to: (i) items as specified in Sections 5(b). To , 6, 16 and 31; (ii) all costs and expenses including but not limited to supplies, materials, equipment and tools used or required in connection with the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days operation and maintenance of the date Premises; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Lessor in maintaining and operating the statement is delivered Premises; (v) Capital Reserves replacements and government regulations imposed on the Premises not related to Tenant. Landlord will preserve the records Lessee's use and occupancy of the actual CAM Premises; and (vi) an amount equal to $.02 per square foot per month, as compensation for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, Lessor's accounting and Tenant management services. Lessee shall have the right to inspect such recordsreview the basis and computation analysis used to derive the CAC applicable to this Lease annually. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.1.9

Appears in 1 contract

Samples: Lease Termination Agreement (MoSys, Inc.)

Common Area Charges. Tenant shall pay to Landlord, as additional rent, an amount equal to 28.63% of the total Common Area Charges as defined in this lease. Tenant further agrees that Common Area Charges shall include an additional 5% of the actual expenditures for the aggregate of all other Common Area Charges in order to compensate Landlord for accounting and processing services. Tenant's percentage share of Common Area Charges shall be paid as follows: At or prior to the commencement of the term and to the commencement of each calendar year of the term, Landlord shall deliver to Tenant a written estimate of total Common Area Charges during the balance of the calendar year in which the term commences and each succeeding calendar year, respectively. Tenant shall pay, as Additional Rentadditional rent, Tenant’s pro rata on the first day of each month during the calendar year (or portion thereof covered by such estimate) its percentage monthly share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”)Common Area Charges as shown on such estimate. Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within Within thirty (30) days of the date end of each calendar year and of the end of the term, Landlord shall deliver to Tenant a statement is delivered of the actual Common Area Charges incurred for the preceding year, or, in the case of a statement after the end of the term, covering the year in which the lease terminates. If such statement shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If such statement shows that Tenant has paid more than its percentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant. Landlord will preserve reserves the records right to revise any estimate of Common Area Charges if actual or projected Common Area Charges show an increase or decrease in excess of 10% from any earlier estimate for the same period. In such event, Landlord shall deliver the revised estimate to Tenant, together with an explanation of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts applyreasons therefor, and Tenant shall have revise its payments accordingly. Landlord's and Tenant's obligations with respect to adjustments at the right to inspect expiration or earlier termination of this lease shall survive such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthtermination.

Appears in 1 contract

Samples: Sublease Agreement (Novellus Systems Inc)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). Lessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Forty Six Thousand Seven Hundred Four and 84/100’s Dollars ($46,704.84), said sum representing Lessee’s estimated monthly payment of Lessee’s percentage share of CAC and includes a fixed monthly sum of Two Thousand Three Hundred Ninety Five and 00/100’s Dollars ($2,395.00) which represents the long term capital reserve for replacement of parking lot, roof and painting of building exterior (“Capital Reserves”). TenantIt is understood and agreed that Lessee’s pro rata share is 100%obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. CAM consists Lessee’s estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC for the subject calendar year which Lessee shall pay to Lessor as Rent. Within 120 days of the end of each calendar year during the term hereof and within 120 days of the end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred including municipal Capital Reserves expended for the preceding year or other applicable period in the case of a termination year. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall on demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at its option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefor, and state-wide property tax assessments) Lessee shall revise its monthly payments accordingly. Lessor’s and insurance premiums for all insurance carried by the Landlord Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease term)Term or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. To Notwithstanding the extent foregoing, Lessor shall not be entitled to recover for any CAC expense incurred more than twenty-four (24) months prior to the date that the applicable expenses statement for such CAC expenses is delivered to Lessee. During the Term of the Lease or any extensions thereof, the Lessee will have the right to audit the Lessor’s records for the Premises within one (1) year of receipt by the Lessee of the annual statement of actual CAM exceeds CAC incurred including Capital Reserves expended. The audit will take place during normal business hours at the estimated CAMLessor’s office on a date mutually agreed to by the parties and Lessor shall provide reasonable facilities for the conduct of such audit. In the event that such audit shows any additional sums due from Lessee to Lessor on account of CAC expenses, Tenant Lessee shall pay such sums at the difference time of the next payment of Rent hereunder. In the event that such audit shows that Lessee has overpaid any CAC expenses for any year in questions, then Lessee shall be entitled to Landlord deduct such overpaid amount from the next payment of Base Rent hereunder, or if this Lease has terminated, Lessor shall, within thirty (30) days of the date receipt of such audit, refund such overpaid amount to Lessee. If the statement audit by the Lessee results in a discrepancy of greater than five percent (5%), Lessor will reimburse Lessee, for Lessee’s reasonable out of pocket costs for the audit. As used in this Lease, CAC shall include but is delivered not limited to: (i) items as specified in Sections 5(b), 6, 16, 31 and ; (ii) all costs and expenses including but not limited to Tenant. Landlord will preserve supplies, materials, equipment and tools used or required in connection with the records operation and maintenance of the actual CAM for Premises; (iii) licenses, permits and inspection fees; (iv) all other costs incurred by Tenant for two Lessor in maintaining and operating the Premises; (2v) years from Capital Reserves replacements and government regulations imposed on the date Premises not related to Lessee’s use and occupancy of the annual statement Premises; and (vi) an amount equal to which the receipts applyFive Thousand Nine Hundred Eighty Eight and 00/100’s Dollars ($5,988.00) per month, as compensation for Lessor’s accounting and Tenant management services. Lessee shall have the right to inspect such records. For review the first year of basis and computation analysis used to derive the Term, CAM is estimated CAC applicable to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monththis Lease annually.

Appears in 1 contract

Samples: Guarantee of Lease (Equinix Inc)

Common Area Charges. Tenant shall paypay to Landlord, as Additional Rentadditional rent, Tenant’s pro rata share an amount equal to (i) twenty percent (20%) of the real estate taxes common area charges of the Project and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is ii) 100%. CAM consists % of all municipal the common area charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and of the building within in which the Premises are located. Tenant There shall have be no duplication of costs in items (i) and (ii) of the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlordpreceding sentence. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata 's percentage share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM such common area charges shall be paid as follows: Tenant's estimated monthly payment of common area charges payable by Tenant during the calendar year in monthly installments due and payable at which the time term commences is set forth in paragraph 4(b) of this lease. Prior to the commencement of each succeeding calendar year of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each yearterm (or as soon as practicable thereafter), Landlord shall compare deliver to Tenant a written estimate of Tenant's monthly payment of common area charges. Tenant shall pay, as additional rent, on the first day of each month during the term in accordance with paragraph 4(b) of the lease, its monthly share of common area charges as estimated by Landlord. Within one hundred twenty (120) days of the end of each calendar year and of the termination of this lease (or as soon as practicable thereafter), Landlord shall deliver to Tenant a statement of actual expense common area charges incurred for CAM to the estimated expenses and preceding year. Upon Tenant's written request made within ninety (90) days after receipt of the statement, Landlord shall provide Tenant with a copies of invoices and other documentation in support thereof. If such statement indicating whether the estimated CAM was greater or shows that Tenant has paid less than its actual percentage then Tenant shall on demand pay to Landlord the amount of such deficiency. If Tenant fails to pay such deficiency due within ten (10) days after demand, Tenant shall pay an additional ten percent (10%) of the amount due as a penalty. If such statement shows that Tenant has paid more than its actual CAMpercentage share then Landlord shall, at its option, promptly refund such excess to Tenant or credit the amount thereof to the rent next becoming due from Tenant. To Landlord reserves the extent right to revise any estimate of common area charges if actual or projected common area charges show an increase or decrease in excess of 10% from any earlier estimate for the actual CAM was less than the estimated CAMsame period. In such event, Landlord will credit shall deliver the excess against future rent revised estimate to Tenant, together with an explanation of the reasons therefor, and Tenant shall revise its payments due from Tenant or will pay such amount in cash if no future rent payments are accordingly. Landlord's and Tenant's obligation with respect to be paid by Tenant (e.g., adjustments at the end of the Lease term)term or earlier expiration of this lease shall survive such termination or expiration. To As used in this lease, "common area charges" shall include, but not be limited to, (i) all items identified in paragraphs 8, 9, 11, 12, 13 and 15 as being common area charges; (ii) amortization of such capital improvements having a useful life greater than one year as Landlord may have installed for the extent actual CAM exceeds the estimated CAMpurpose of reducing operating costs and/or to comply with all laws, Tenant rules and regulations of federal, state, county, municipal and other governmental authorities now or hereafter in effect (Tenant's share of any such capital improvement shall pay the difference to Landlord within thirty (30) days equal Tenant's proportionate share of the date fraction of the statement is delivered cost of such capital improvement equal to Tenant. the remaining term of the lease over the useful life of such capital improvement); (iii) salaries and employee benefits (including union benefits) of personnel engaged in the operation and maintenance of the Project (or the building in which the Premises are located) and payroll taxes applicable thereto; (iv) supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the Project; (v) licenses, permits and inspection fees; (vi) a reasonable reserve for repairs and replacement of equipment used in the maintenance and operation of the Project; (vii) all other operating costs incurred by Landlord will preserve in maintaining and operating the records Project; and (viii) an amount equal to five percent (5%) of the actual CAM expenditures for inspection by Tenant the aggregate of all other common area charges as compensation for two (2) years from the date of the annual statement to which the receipts apply, Landlord's accounting and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthprocessing services.

Appears in 1 contract

Samples: Lease (Exodus Communications Inc)

Common Area Charges. Tenant shall paypay to Landlord as a Common Area charge Tenant's proportionate share of all direct costs and expenses of every kind and nature paid or incurred by Landlord in operating and maintaining the Common Areas. Such costs and expenses shall include but not be limited to costs of cleaning, lighting, repairing, and replacing (except to the extent proceeds of insurance or condemnation awards are available therefor), landscaping, providing security, providing public liability, property damage, fire and extended coverage and such other insurance as Additional RentLandlord deems appropriate; total compensation and benefits (including premiums for worker's compensation and other insurance) paid to or on behalf of employees; personal property taxes; supplies; fire protection and fire hydrant charges; water; garbage and sewer charges; utility charges; licenses and permit fees; reasonable depreciation of equipment used in operating and maintaining the Common Areas and rent paid for leasing any such equipment, and reasonable reserves for Common Area maintenance, including costs of normal wear and tear to the roof and exterior walls of the Building, plus 15% of all such costs up to $300 in costs per month as a fee for managing and administering the Common Area. Tenant’s pro rata 's proportionate share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Common Area charges shall be 51.5% Tenant’s pro rata share is 100%. CAM consists of all municipal 's Common Area charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at on the time first day of the payment each month in an amount to be estimated by Landlord. On or before April 1 of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare furnish to Tenant a statement of the actual expense amount of Tenant's proportionate share of such Common Area charges for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAMpreceding calendar year. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay Within 30 days after delivery of such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end of the Lease term). To the extent actual CAM exceeds the estimated CAMstatement, Tenant shall pay to Landlord or Landlord shall remit to Tenant, as the case may be, the difference to Landlord within thirty (30) days of between the date the statement is delivered to Tenant. Landlord will preserve the records of estimated amounts paid by Tenant and the actual CAM amounts of Tenant's Common Area charges for inspection such period as shown by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such recordsstatement. For purposes of calculating the first year of actual Common Area charges for any partial year, the Term, CAM is estimated to total Common Area charges shall be Eightypro-Five Thousand Nine Hundred Ninetyrated based upon twelve 30-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per monthday months.

Appears in 1 contract

Samples: Lease Agreement (Coast Bancorp)

Common Area Charges. In addition to the above basic rent and as additional rent, Tenant shall paypay to Landlord the sum of Thirty-six Thousand Nine Hundred Twelve Dollars ($36,912.00) on or before the first day of the first (1st) full calendar month of the Lease Term and on the first day of each and every successive calendar month, as Additional Rent, said sum representing Tenant’s pro rata share payment of “common area charges”. Payment of common area charges for any partial month shall be payable in advance and shall be prorated at the rate of 1/30th of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”)monthly payment of common area charges per day. Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which If Tenant vacates the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect in its entirety prior to the real estate and expiration of the building within which the Premises are located. Lease Term, then Tenant shall have no further obligation for payment of common area charges for the right to contest and seek abatement and/or reduction remainder of real estate taxesthe Lease Term, the common area charge for the calendar month in which Tenant vacates the Premises shall be prorated as specified above, and Landlord shall cooperate with return to Tenant any such efforts at no cost to Landlord. If Landlord receives a refund of any prorated portion of real estate taxes that were included such common area charge applicable to the portion of such calendar month after the date of such vacation. As used in this Lease, “common area charges” shall mean Tenant’s contribution to the real estate taxes paid costs incurred by TenantLandlord under Paragraphs 9 (Maintenance and Repair), then Landlord shall reimburse Tenant its pro rata share of the refunded taxes11 (Insurance), less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord12 (Utilities), CAM shall be paid in monthly installments due 13 (Taxes) and payable at the time of the payment of Minimum Rent15 (Common area maintenance). Landlord shall determine and Tenant agree and acknowledge that the common area charges are a reasonable estimate of the CAM and shall advise Tenant Tenant’s anticipated share of the estimated common area charges that will be incurred by Tenant on a monthly basis under this Lease, and that such monthly amount of CAM and shall be binding on the parties. Subject to Section 12, Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord sole obligation with respect to such common area charges shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., at the end payment of the Lease termmonthly common area charge set forth in this Paragraph 4(b). To the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have no further obligation with respect to such charges, even if the right to inspect such records. For actual common area charges incurred by Landlord are higher or lower than the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992monthly amount set forth in this Paragraph 4(b), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.

Appears in 1 contract

Samples: Agreement for Purchase and Sale (Integrated Device Technology Inc)

Common Area Charges. Tenant Lessee shall paypay to Lessor, as Additional additional Rent, Tenantan amount equal to Lessee’s pro pro-rata share of the real estate taxes and insurance premiums described total common area charges of the Premises as defined below (the common area charges for Landlord’s Building the Premises is referred to herein as (“CAMCAC”)). TenantLessee shall pay to Lessor as Rent, on or before the first day of each calendar month during the Lease Term, subject to adjustment and reconciliation as provided hereinbelow, the sum of Seven Thousand One Hundred Ten Dollars ($7,110), said sum representing Lessee’s pro rata estimated monthly payment of Lessee’s percentage share of CAC. It is 100%understood and agreed that Lessee’s obligation under this paragraph shall be prorated to reflect the Commencement Date and the end of the Lease Term. CAM consists The CAC does not include any amounts for Utilities. Lessee’s estimated monthly payment of all municipal charges and taxes assessed against CAC payable by Lessee during the real estate upon calendar year in which the Premises are located Lease commences is set forth above. At or prior to the commencement of each succeeding calendar year term (including municipal or as soon as practical thereafter), Lessor shall provide Lessee with Lessee’s estimated monthly payment for CAC which Lessee shall pay to Lessor as Rent. Within 90 days of the end of the calendar year and state-wide property tax assessmentsthe end of the Lease Term, Lessor shall provide Lessee a statement of actual CAC incurred for the preceding year or other applicable period in the case of a termination year, If Lessee desires backup supporting documentation, Lessor will provide at a cost of $5.00 per page for each document requested. If such statement shows that Lessee has paid less than its actual percentage, then Lessee shall within ten (10) days of written demand pay to Lessor the amount of such deficiency. If such statement shows that Lessee has paid more than its actual percentage, then Lessor shall, at Lessee’s option, promptly refund such excess to Lessee or credit the amount thereof to the Rent next becoming due from Lessee. Lessor reserves the right to revise any estimate of CAC if the actual or projected CAC show an increase or decrease in excess of 10% from an earlier estimate for the same period. In such event, Lessor shall provide a revised estimate to Lessee, together with an explanation of the reasons therefor, and insurance premiums for all insurance carried by the Landlord Lessee shall revise its monthly payments accordingly. Lessor’s and Lessee’s obligation with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant (e.g., adjustments at the end of the Lease term)Term or earlier expiration of this Lease shall survive the Lease Term or earlier expiration. To Lessor shall maintain books and records reflecting the extent actual CAM exceeds the estimated CAM, Tenant shall pay the difference to Landlord within thirty (30) days of the date the statement is delivered to TenantCAC in accordance with generally accepted accounting principles. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, Lessee and Tenant its certified public accountant shall have the right to inspect Lessor’s records at Lessor’s applicable local office or other location designated by Lessor upon at least forty-eight (48) hours prior notice during normal business hours. The results of any such recordsinspection shall be kept strictly confidential by Lessee and its agents. For If Lessee objects to any actual statement, Lessor and Lessee shall agree upon an independent certified public accountant to issue a final and conclusive actual statement. If it shall be finally determined by such independent certified public accountant that such actual statement by Lessor was incorrect, then either (a) Lessor shall reimburse Lessee for any overpayment or credit the first year amount of such overpayment against the next installment of rent, or (b) Lessee shall within ten (10) days after such determination pay any amounts due to Lessor. Lessee shall pay the cost of such audit, provided that if the audit reveals Lessor overstated CAC by more than five percent (5%), Lessor shall pay the cost of such audit. As used in this Lease, CAC shall include but is not limited to: (i) items as specified in Sections 5(b), 6, 16 and 31; (ii) all costs and expenses in connection with the foregoing, including but not limited to supplies, materials, equipment and tools used or required in connection with the operation and maintenance of the TermPremises; (iii) licenses, CAM is estimated permits and inspection fees; (iv) all other costs incurred by Lessor in maintaining and operating the Premises; and (v) an amount equal to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars One percent ($85,992)1%) of the base rent and CAC, or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.as compensation for Lessor’s accounting and management services. Lessee shall have the right to review the basis and computation analysis used to derive the CAC applicable to this Lease annually. CAC shall not include and Lessee shall have no obligation for any of the following:

Appears in 1 contract

Samples: Netlogic Microsystems Inc

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect In addition to the real estate rental and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant its pro rata share of the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience of the Landlord, CAM shall be paid in monthly installments due and payable at the time of the payment of Minimum Rent. Landlord shall determine a reasonable estimate of the CAM and shall advise Tenant of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM to the estimated expenses and shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are other charges herein provided to be paid by Tenant Lessee to Lessor, Lessee shall pay to Lessor, as additional rent and as Lessee's share of the cost of maintaining, operating, rexxxxxxg and managing the Project, Lessee's proportionate share (e.g.as defined in PARAGRAPH 12) xx xxe Total Common Area Charges (as hereinafter defined) for any calendar year during the Term (the "CAM Amount"). Lessee shall pay Lessor in advance its monthly estimated proportionate share (as described in PARAGRAPH 12) of the Total Common Area Charges, at together with all applicable rental taxes due thereon, within ten (10) days after receipt of an invoice from Lessor setting forth Lessor's reasonable estimate of such amount. Within ninety (90) days following the end of each calendar year during the Lease term)Term or as soon thereafter as is reasonably possible, Lessor shall furnish Lessee with a statement of all actual Total Common Area Charges for the Project for the previous calendar year indicating the computation of Lessee's proportionate share of the Total Common Area Charges for such calendar year and the payments made by Lessee during such calendar year. To If Lessee's aggregate estimated monthly payments actually paix xx Xessor for the extent actual CAM exceeds calendar year are greater than Lessee's proportionate share of the estimated CAMTotal Common Area Charges for such calendar year, Tenant Lessor shall, at Lessee's option, promptly pay the excess to Lessee or shall apply the excess to any past due amounts owing from Lessee to Lessor; if the payments made are less than Lessee's proportionate share, Lessee shall pay the difference to Landlord Lessor within thirty ten (3010) days of its receipt of such statement. Total Common Area Charges shall consist of all costs and expenses of every type associated with the date the statement is delivered to Tenant. Landlord will preserve the records management, repair, and maintenance of the actual CAM Common Areas including, without limitation, costs and expenses for inspection the following: gardening and landscaping; utilities, water and sewer charges; premiums for liability, property damage and casualty insurance and workman's compensation insurance; all personal property taxes xxxxxx xx or attributable to personal property used in connection with the Common Areas; straight line depreciation on personal property owned by Tenant for two (2) years from Lessor which is consumed in the date operation or maintenance of the annual statement Common Areas; rental or lease payments paid by Lessor for rented or leased personal property used in the operation or maintenance of Common Areas; fees for required licenses and permits; refuse disposal charges; repairing, resurfacing, repaving, maintaining, painting, lighting, cleaning, refuse removal, security and similar items; exterior painting of the Project; fees Please Initial Lessor G Lessee G paid to property managers which fee shall not exceed rates paid to comparable property managers by other landlords to manage comparable properties in the receipts applyTucson, Arizona area (including, without limitation, an amount equal to the fair rental value of any on-site manager's office); amortization of capital expenses, including financing costs at then market rates if (i) required by a governmental entity for energy conservation, life safety, ADA or environmental purposes, or (ii) such capital expenses reduce Total Common Area Charges; compensation (including employment taxes) of all persons who perform duties connected with the operation, maintenance, or repair of the Project, but only to the extent of the time performed working on the Project; repair and maintenance of exterior roofs; and reserves for roof replacement, including the repair and replacement of the coating, membrane, and Tenant shall have the right to inspect such records. For the first year decking of the roof, but excluding any costs incurred in connection with any repairs or improvements with the roof structure. Said Total Common Area Charges shall further include all charges for utilities supplied to the Premises and to other tenants of the Project which are not separately metered, all charges for regular preventive maintenance service of mechanical equipment including, without limitation, heating, ventilating and air conditioning equipment, which serves the Common Areas, the cost of lighting, maintenance and repair of the Project identification signs, all charges for repair and maintenance of mechanical equipment, including, without limitation, heating, ventilating and air conditioning equipment which is attributable to the Project, and the cost of repairing and maintaining the plumbing, electrical and other off-Premises facilities serving the Premises or the Project. The Total Common Area Charges that vary with occupancy and that are attributable to any part of the Term in which less than ninety-five percent (95%) of the rentable area of the Project is occupied by tenants will be adjusted by Lessor to the amount that Lessor reasonably believes they would have been if ninety-five percent (95%) of the rentable area of the Project had been so occupied. Notwithstanding any provision to the contrary contained in this Lease, during the initial Term of this Lease (excluding however any Extension Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars that portion of the CAM Amount that is within the reasonable control of Lessor ($7,166the "Controllable CAM Amount") per month.for a calendar year shall not increase by more than seven and seventy seven hundredths percent (7.77%) over the Controllable CAM Amount for the previous calendar year during the years 2000, 2001, and 2002 and shall not increase by more than ten percent (10%) over the Controllable CAM Amount for the previous calendar year during the years 2003, 2004 and January and February of the year 2005. Notwithstanding the foregoing, the CAM Amount shall not include:

Appears in 1 contract

Samples: Luxtec Corp /Ma/

Common Area Charges. Tenant shall pay, as Additional Rent, Tenant’s pro rata share of the real estate taxes and insurance premiums described below for Landlord’s Building (“CAM”). Tenant’s pro rata share is 100%. CAM consists of all municipal charges and taxes assessed against the real estate upon which the Premises are located (including municipal and state-wide property tax assessments) and insurance premiums for all insurance carried by the Landlord with respect to the real estate and the building within which the Premises are located. Tenant shall have the right to contest and seek abatement and/or reduction of real estate taxes, and Landlord shall cooperate with any such efforts at no cost to Landlord. If Landlord receives a refund of any portion of real estate taxes that were included in the real estate taxes paid by Tenant, then Landlord shall reimburse Tenant pay its pro rata share of all common area charges for the refunded taxes, less any non-reimbursed expenses that Landlord reasonably incurred to obtain the refund. For the convenience maintenance and upkeep of the Landlordcommon areas, CAM such as parking lots, security, landscaping and lighting. Such common area charges shall include, but shall not be limited to, water and sewer charges, utilities and utility system installation charges, maintenance and repairs, insurance premiums, taxes and assessments, licenses, permits, management fees, and reasonable depreciation of equipment used in the operation of the common areas; provided, however, costs of equipment properly chargeable to capital account and depreciation of the original cost of constructing the common areas shall be paid in monthly installments due and payable at the time of the payment of Minimum Rentexcluded. Landlord shall determine a reasonable be entitled to estimate the amount payable by Tenant pursuant to this Section 3.5 so long as said amount is based on the ratio of the CAM and shall advise Tenant square footage of the estimated amount of CAM and Tenant’s pro rata share of CAM. Not less frequently than once each year, Landlord shall compare the actual expense for CAM Premises to the total leasable square footage of the Resort (which shall be deemed to be the total square footage of the Resort, including space occupied by Landlord, that, under commercially reasonable terms, conditions and circumstances, could be leased to a tenant). The amounts so estimated expenses shall be payable by Tenant in equal monthly installments in advance over the period covered by the estimate and each such installment shall provide Tenant with a statement indicating whether the estimated CAM was greater or less than the actual CAM. To the extent the actual CAM was less than the estimated CAM, Landlord will credit the excess against future rent payments due from Tenant or will pay such amount in cash if no future rent payments are to be paid by Tenant together with the monthly installments of Rent. From time to time, Landlord may reasonably re-estimate the amount payable under this Section 3.5 and the monthly installments paid by Tenant hereunder shall be adjusted accordingly. Tenant shall be directly responsible for any expenses relating to the use of the common areas by Tenant, its employees, agents and invitees. Notwithstanding anything contained in this Lease to the contrary, in no event shall Tenant be required to pay an amount of common area charges per square foot which is greater than any other occupant of the Resort. Within sixty (e.g., at 60) days after the end of each accounting year, the Lease term). To the extent actual CAM exceeds parties shall determine if the estimated CAM, common area charges paid by Tenant shall pay the difference to Landlord within thirty (30) days resulted in overpayment or underpayment of the date the statement is delivered amount due. Any amounts underpaid shall be immediately paid by Tenant to Landlord, and any amounts overpaid shall be immediately reimbursed by Landlord to Tenant. Landlord will preserve the records of the actual CAM for inspection by Tenant for two (2) years from the date of the annual statement to which the receipts apply, and Tenant shall have the right to inspect such records. For the first year of the Term, CAM is estimated to be Eighty-Five Thousand Nine Hundred Ninety-Two Dollars ($85,992), or Seven Thousand One Hundred Sixty-Six Dollars ($7,166) per month.

Appears in 1 contract

Samples: Casino Lease (Resort at Summerlin Inc)

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