Expense Adjustment. Commencing on the Commencement Date and continuing throughout the remainder of the Term, Tenant shall pay to Landlord as Additional Rent, on the first day of each calendar month, an amount equal to one-twelfth (1/12) of Tenant’s Proportionate Share of the total amount of the Basic Costs incurred with respect to each Calendar Year in the Term of this Lease (the total amount paid by the Tenant in each Calendar Year being referred to herein as the “Expense Adjustment Amount”). The Expense Adjustment Amount for each Calendar Year shall be estimated from time to time by Landlord and communicated by written notice to Tenant not more frequently than quarterly. Landlord shall cause to be kept books and records showing Basic Costs in accordance with an appropriate system of accounts and account practices consistently maintained. Following the close of each Calendar Year, Landlord shall cause the amount of the Expense Adjustment Amount which should have been paid by Tenant for such Calendar Year (the “Final Expense Amount”) to be computed on the basis of the actual Basic Costs for each Calendar Year, and Landlord shall deliver to Tenant a statement of such Final Expense Amount. If the Final Expense Amount exceeds the Expense Adjustment Amount, Tenant shall pay such deficiency within thirty (30) days after receipt of such statement. If the Expense Adjustment Amount exceeds the Final Expense Amount, then at Landlord’s option such excess shall be either credited against payments of Additional Rent next due or refunded by Landlord, provided no Tenant Event of Default exists hereunder. Delay in computation of the Final Expense Amount or any Expense Adjustment Amount shall not be deemed a default hereunder or a waiver of Landlord’s right to collect the Final Expense Amount or Expense Adjustment Amount, as the case may be. Landlord estimates that Tenant’s Expense Adjustment Amount as of the Commencement Date will be $0.21 per Rentable Square Foot of the Premises per month provided, however that the foregoing is an estimate only and shall be subject to adjustment during the Term as provided in this Section 4.3.
Expense Adjustment. (i) Tenant shall pay as additional rent for each Calendar Year, that amount (“Expense Adjustment Amount”) which is Tenant’s Proportionate Share of the amount by which the Operating Expenses incurred with respect to such Calendar Year exceed the amount thereof incurred with respect to the Base Year; provided, however, that in determining the amount of Operating Expenses for each Calendar Year subsequent to the Base Year, if less than 95% of the Rentable Area of the Building shall have been occupied at any time during such Calendar Year, Operating Expenses shall be deemed for such Calendar Year to be in the amount reasonably determined by Landlord to be equal to that amount of like expenses which normally would be expected to be incurred had such occupancy been 95% throughout such Calendar Year.
Expense Adjustment. In addition to Monthly Base Rent, Tenant shall pay with respect to each Adjustment Year an amount equal to Tenant's Share of Operating Expenses for the Adjustment Year in excess of the Base Expenses ("Expense Adjustment"). As to any Adjustment Year during the Term which does not begin on January 1st or does not end on December 31st, Expense Adjustment with respect to such Adjustment Year shall be prorated on a per diem basis. Notwithstanding anything contained herein to the contrary, Operating Expenses shall be deemed not to increase more than $.50 per rentable square foot per calendar year (determined on a cumulative basis throughout the Term of the Lease); provided that the foregoing cap on Operating Expenses shall not apply to the following components of Operating Expenses: taxes, insurance, and utilities.
Expense Adjustment. (a) For the purposes of this Paragraph 4D, the following terms are defined as follows:
Expense Adjustment. In consideration of the surrender of the Surrendered Office and the lease of the Office, Schedule L and Schedule O shall be adjusted as follows:
Expense Adjustment. (i) Tenant shall pay as Additional Rent an amount (the "Expense Adjustment Amount") equal to Tenant's Share of the Operating Expenses for each Lease Year, except that Tenant shall be required to pay only a pro rata amount of the Expense Adjustment Amount for the Lease Years in which the first and last days of the Term occur prorated on a per diem basis.
Expense Adjustment. In accordance with Section 5.3 of this ------------------ in Agreement, the event that the Third Party Expenses (as defined in Section 5.3 hereof) incurred by the Company exceeds the sum of $150,000, then (i) to the extent any such excess is known as of the Closing Date the cash consideration payable pursuant to Section 1.6 to the holders of Company Class B Common Stock shall be reduced by the amount of such excess, and (ii) to the extent any such excess is not known as of the Closing Date the excess shall when known be paid to Splash out of the Escrow Fund described in Article VII.
Expense Adjustment. The Expense Adjustment Amount with respect to each Calendar Year after 2003 shall be paid in monthly installments, in advance on the first day of each calendar month during the course of such year, in amounts estimated by Landlord not more often than once per calendar year and communicated by written notice to Tenant. Landlord shall cause to be kept books and records showing Operating Expenses in accordance with generally accepted accounting principles. Within 240 days, following the close of each Calendar Year after December 31, 2004, Landlord shall cause the amount of the Expense Adjustment Amount for such Calendar Year to be computed based on Operating Expenses for such Calendar Year, and Landlord shall deliver to Tenant a statement of such amount including a reasonably detailed description of the items of Operating Expenses incurred; thereupon Tenant shall pay any deficiency as shown by such statement to Landlord within 30 days after receipt of such statement. If the total of the estimated monthly installments paid by Tenant during any Calendar Year exceed the actual Expense Adjustment Amount due from Tenant for such Calendar Year, then, at Landlord's option, such excess shall be either credited against any Rent then owed or next subsequently due by Tenant to Landlord or promptly refunded by Landlord. Notwithstanding any provision contained in this Lease to the contrary, Tenant shall not be obligated to pay any Expense Adjustment Amount for or during Calendar Years 2002 and 2003.
Expense Adjustment. Paragraph 5B of the Lease, Expense Adjustment, is hereby amended so that the first sentence thereof shall read as follows: “For periods through October 31, 2007, Tenant shall pay to Landlord or Landlord’s agent as Additional Rent, an amount (“Expense Adjustment Amount”) equal to the sum of (i) the Area A/B Proportionate Share (as defined in Paragraph 1 of this Lease) of the amount by which Operating Expenses incurred with respect to each Calendar Year exceeds A/B Operating Expense Base (as defined in Paragraph 1 of this Lease) plus (ii) for and with respect to all periods from and after the Area C and D Rent Commencement Date, the Area C/D Proportionate Share (as defined in Paragraph 1 of this Lease) of the amount by which Operating Expenses incurred with respect to each Calendar Year exceeds C/D Operating Expense Base (as defined in Paragraph 1 of this Lease). With respect to any Calendar Year within which Areas A, B, C and/or D are added to the Premises, Tenant’s Expense Adjustment Amount shall be prorated based on the portion of such Calendar Year that such space is a part of the Premises. For periods from and after November 1, 2007, the Expense Adjustment Amount shall be Tenant’s Proportionate Share (as defined in Paragraph 1 of this Lease) of the amount by which Operating Expenses incurred with respect to each Calendar Year exceeds Base Year Operating Expenses for the applicable Base Year (as defined in Paragraph 1 of this Lease).”
Expense Adjustment. In accordance with Section 6.2 of this Agreement, in the event that the Third Party Expenses (as defined in Section 6.2 hereof) incurred by the Company exceed $60,000, then (i) to the extent any such excess is known as of the Closing Date the Merger Consideration payable pursuant to Section 1.6 shall be reduced by the amount of such excess, and (ii) to the extent any such excess is not known as of the Closing Date the excess shall when known be paid to SCM out of the Escrow Fund described in Article VIII.
