Operating Expense Payment. Tenant will pay its Proportionate Share of all Operating Expenses incurred by Landlord during the Lease Term in connection with the operation, management, maintenance and repair of the Land and the Building. Illustrative examples of those expenses which are included within the definition of "Operating Expenses" are set forth in Exhibit B. Tenant's Proportionate Share of such Operating Expenses will be paid by Tenant in advance based upon Landlord's estimate of the actual Operating Expenses which will be incurred during each calendar year during the Lease Term. The Estimated Operating Expense Payment for the first such calendar year is set forth in the Lease Summary. The Estimated Operating Expense Payment for each calendar year thereafter will be adjusted based upon Landlord's estimate of its Operating Expenses for such calendar year. Landlord will use its best efforts to notify Tenant by December 1 of each year during the Lease Term of any adjustment in the monthly Estimated Operating Expense Payment for the upcoming calendar year. As soon as reasonably practicable after the end of each calendar year, Landlord will deliver to Tenant a written statement showing its actual Operating Expenses for such calendar year and Tenant's actual Proportionate Share thereof. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year exceeds Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Landlord will apply the excess toward the next succeeding monthly Estimated Operating Expense Payment(s) due from Tenant. If the sum of the Estimated Operating Expense Payments paid by Tenant during such calendar year is less than Tenant's Proportionate Share of the actual Operating Expenses incurred during such year, then Tenant will pay the deficiency to Landlord within ten business days after Tenant's receipt of Landlord's written demand for the payment thereof.
Operating Expense Payment. In addition to the Base Rent, for each Calendar Year during the Term, Tenant shall pay Landlord Tenant’s Pro-Rata Share of the Operating Expenses (calculated on a per rentable square foot per annum basis) (the “Operating Expense Payment”). The Operating Expense Payment shall be made by Tenant to Landlord in accordance with the terms of this Section 4.2 and shall be subject to adjustment as provided for in this Section 4.2.
Operating Expense Payment. (A) Tenant shall pay the Operating Expense Payment to Landlord in accordance with the terms of this Section 2.3.
Operating Expense Payment. To the extent that Gross Revenues during any Fiscal Year are, at any time, insufficient or expected to be insufficient to pay Operating Expenses incurred or accrued in such Fiscal Year (including, without limitation, the Base Fee), City shall advance funds to Savor as follows: Savor shall submit to City an invoice for the projected and/or actual insufficiency of Gross Revenues to pay Operating Expenses, and City shall advance such funds to Savor within five (5) days after receipt of such invoice. Any failure by Savor to perform its obligations under this Agreement shall not be a breach of or default under this Agreement if such breach or default results from City's failure to advance sufficient funds to Savor as provided for herein.
Operating Expense Payment. (a) For each Lease Year (hereinafter defined) during the Term, Tenant shall pay as additional rent an amount equal to the Operating Expense Payment (hereinafter defined).
Operating Expense Payment. (A) Subject to the provisions of this Section 2.4(A), Tenant shall pay to Landlord, on the first day of the calendar month following the calendar month during which Landlord gives to Tenant the first Operating Statement, which shall set forth the estimated Operating Payment for the applicable Operating Year (but in no event upon less than fifteen (15) days advance notice) (an "Operating Statement"), and on the first day of each succeeding calendar month during the Term (until Landlord gives Tenant an additional Operating Statement pursuant to Section 2.4(B) hereto, an amount equal to the quotient obtained by dividing (x) the Operating Payment for the Operating Year covered by such Operating Statement, by (y) twelve (12) (the "Initial Monthly Operating Amount"). If Landlord gives such Operating Statement to Tenant after the first day of the Operating Year covered thereby, then Tenant, on the first day of the following calendar month (but in no event upon less than fifteen (15) days advance notice), shall also pay to Landlord an amount equal to the product obtained by multiplying (i) the Initial Monthly Operating Amount, by (ii) the number of calendar months which have elapsed since the beginning of such Operating Year. Any Operating Payment for any partial calendar months during the Term shall be prorated on a per diem basis (for a three hundred sixty five (365) day year) to reflect such partial calendar months. Notwithstanding anything to the contrary contained in this Lease, Tenant shall not be required to make any Operating Payments allocable to time periods prior to the Rent Commencement Date.
Operating Expense Payment. As of the date hereof, and ------------------------- throughout the term of the Lease, as hereby extended, Paragraph 2.02 of the Lease is hereby deleted in its entirety and the following is substituted in place thereof:
Operating Expense Payment. In addition to Base Rent, Tenant shall pay, as additional rent, a share of Operating Expenses on the first day of each month, in advance and without the necessity of notice to Tenant by Landlord, throughout the Term. The estimated initial monthly Operating Expense Payment is specified in Section 1.01 (d). The intent of such Operating Expense Payment is to create a true net lease whereby tenants are responsible for the payment of all Operating Expenses according to their proportionate share, so that the amount retained by Landlord from total receipts, after payment of all expenses of the Project, is the total of all tenant base rents.
Operating Expense Payment. (A) Commencing on the Rent Commencement Date, Tenant shall pay the Operating Expense Payment to Landlord in accordance with the terms of this Section 2.3 (it being understood that Tenant shall have no obligation to make an Operating Expense Payment with respect to any period prior to the Rent Commencement Date).
Operating Expense Payment. As used in this Lease, the Tenant's proportionate share of the Operating Expenses shall be one hundred percent (100%).
