ESTIMATED ADDITIONAL RENTALS Sample Clauses
The 'Estimated Additional Rentals' clause defines the landlord's right to collect payments from the tenant for costs beyond base rent, such as property taxes, maintenance fees, or utilities, based on projected or estimated amounts. Typically, the landlord calculates these additional charges at the start of a lease period and requires the tenant to pay them in regular installments, with adjustments made later if actual costs differ from estimates. This clause ensures the landlord can recover variable property expenses efficiently while providing the tenant with predictable payment amounts throughout the lease term.
ESTIMATED ADDITIONAL RENTALS. During the Term, the Tenant shall pay to the Landlord monthly in advance on the 1st day of each and every month during the Term, one-twelfth (1/12) of the amount of such annual Additional Rent as reasonably estimated by the Landlord to be due from the Tenant. Such estimates may be adjusted from time to time and re-adjusted by the Landlord and the Tenant shall pay to the Landlord monthly installments of Additional Rent according to such estimates, as so adjusted.
ESTIMATED ADDITIONAL RENTALS. (a) During the Term, the Tenant shall pay to the Landlord monthly in advance on the 1st day of each and every month during the Term, one twelfth (1/12) of the amount of such annual Additional Rent as reasonably estimated by the Landlord to be due from the Tenant. Such estimates may be adjusted no more than once per year by the Landlord and shall be adjusted at the end of each calendar year, and the Tenant shall pay to the Landlord monthly installments of Additional Rent according to such estimates, as so adjusted.
(b) On or before April 1st of any year, the Landlord shall prepare a statement based on actuals received for the previous year (the “Statement”) and provide same to the Tenant. The Landlord agrees to cooperate with the Tenant and provide explanations for any queries the Tenant may have in relation to the Statement, and if necessary, provide the Tenant with backup documentation with respect thereto. Table of Contents