Common use of Insurance Costs Clause in Contracts

Insurance Costs. Tenant shall pay to Landlord, as Additional --------------------------- Rent, an amount equal to Tenant's Insurance Cost Escalation. Tenant's Insurance Cost Escalation shall be estimated in good faith by Landlord at the end of each calendar year, and thereafter be payable in equal estimated monthly installments, together with the Base Rent, subject to readjustment from time to time as determined by Landlord and also when actual Insurance Costs are determined. After a readjustment, any shortage shall be due and payable by Tenant within 30 days of demand by Landlord and any excess shall, unless an Event of Default has occurred, be credited against future Additional Rent obligations, or refunded if the Lease Term has ended and Tenant has no further obligations to Landlord. Landlord shall provide Tenant upon request with reasonable supporting documentation for the Insurance Costs for the prior calendar year, provided that such request is received by Landlord within six (6) months after the end of the calendar year to which such Insurance Costs relate.

Appears in 2 contracts

Samples: Lease (Smarterkids Com Inc), Lease (Learningstar Inc)

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Insurance Costs. Tenant shall pay to Landlord, as Additional --------------------------- Rent, an amount equal to Tenant's ’s Share of Insurance Cost EscalationCosts. Tenant's ’s Share of Insurance Cost Escalation Costs shall be estimated in good faith by Landlord at the end of each calendar yearyear based on the most recent cost data available to Landlord, and thereafter shall be payable in equal estimated monthly installments, together with installments on the Base Rentfirst day of each calendar month during the Lease Term, subject to readjustment from time to time as determined by Landlord and also when actual Insurance Costs are determined. After a readjustment, any shortage shall be due and payable by Tenant within 30 days of demand by Landlord and any excess shall, unless an Event of Default has occurredthen exists, be credited against future Additional Rent obligations, or refunded promptly if the Lease Term has ended and Tenant has no further obligations to Landlord, provided, however, that payments withheld from Tenant under this section because of an existing Event of Default, shall be remitted to Tenant promptly after such Event of Default is cured by Tenant. Landlord shall provide Tenant upon request with reasonable supporting documentation for the Insurance Costs for the prior calendar year, provided that such request is received by Landlord year within six (6) months after the end of the calendar year to which such Insurance Costs relate.

Appears in 1 contract

Samples: Lease (Candel Therapeutics, Inc.)

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Insurance Costs. Tenant shall pay to Landlord, as Additional --------------------------- Rent, an amount equal to Tenant's Share of Insurance Cost EscalationCosts. Tenant's Share of Insurance Cost Escalation Costs shall be estimated in good faith by Landlord at the end of each calendar year, and thereafter shall be payable by Tenant to Landlord in equal estimated monthly installments, together with the Base Rent, subject to readjustment from time to time as reasonably determined by Landlord and also when actual Insurance Costs are determined. After a readjustment, any shortage shall be due and payable by Tenant within 30 15 days of demand by Landlord and any excess shall, unless there then exists an uncured Event of Default has occurredDefault, be credited against future Additional Rent obligationsobligations next coming due, or refunded if the Lease Term has ended and Tenant has no further obligations to Landlord. Landlord shall provide Tenant upon request with reasonable supporting documentation for the Insurance Costs for the prior calendar year, ; provided that such request is received by Landlord within six (6) months after the end of the calendar year to which such Insurance Costs relate.

Appears in 1 contract

Samples: Lease (Antigenics Inc /De/)

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