Payment of Common Area Costs Clause Examples

Payment of Common Area Costs. Tenant shall pay its "Proportionate Share" of "Common Area Costs" as defined herein, within thirty (30) days of written invoice from Landlord documenting such Common Area Costs. Landlord shall not bill ▇▇▇ant for such Common Area Costs more frequently than once every three (3) months. For purposes hereof, the term "Common Area Costs" shall mean the following:
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Payment of Common Area Costs. Common Area Costs shall be paid in monthly installments on or before the first day of each calendar month, in advance, in an amount equal to one-twelfth (1/12th) of the Common Area Costs based upon the actual Common Area Costs incurred by Landlord during the previous calendar year and any reasonably anticipated increases in such costs. If any portion of the term hereof shall include only a partial calendar year, then for such purposes Common Area Costs shall be adjusted so that the Common Area Costs to be paid by Tenant relates only to those Common Area Costs incurred by Landlord during the term hereof. Within ninety (90) days after each calendar year during the term hereof, Landlord shall deliver to Tenant a written statement setting forth all Common Area Costs incurred by Landlord during such previous calendar year and the anticipated Common Area Costs for the present calendar year. If the total amount paid by Tenant during such previous calendar year for such items shall be less than the actual amount due from Tenant for such calendar year, Tenant shall pay Landlord the actual amount due within thirty (30) days after receipt of such statement. If the total amount paid by Tenant for such items during such previous calendar year shall exceed the actual amount of any such items, such excess shall be credited against the next installments due from Tenant to Landlord hereunder.
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Payment of Common Area Costs. Beginning on the Full Rent Commencement Date, Common Area Costs shall be paid by Tenant in monthly installments on the first day of each month, in advance, in an amount estimated by Landlord. From time to time, but no less often than once each Lease Year, Landlord shall furnish Tenant a statement in reasonable detail of the actual Common Area Costs and expenses paid or incurred by Landlord during such period, prepared in accordance with sound accounting principles. Tenant shall pay within fifteen (15) days after billing the deficiency, if any, between Tenant’s actual pro rata share of Common Area Costs and the amounts paid by Tenant, and in the event of any overpayment by Tenant, Landlord shall credit the overpayment to Tenant’s future rental obligations under this Lease to the end that Landlord shall receive the entire amount of Tenant’s pro rata share of such costs and expenses for such period and no more. Landlord’s books and records compiled with respect to Landlord’s Common Area Costs shall be subject to audit on ten (10) days notice by Tenant, provided no more than one audit shall be allowed for any calendar year. Landlord agrees to cooperate with any such audit and shall maintain complete books and records in accordance with generally accepted accounting principles, consistently applied for the same period as required for federal income tax reporting purposes. Such audit(s) shall take place within three (3) years after such costs are due in accordance with the terms hereof. If it shall be determined as a result of such audit(s) that Tenant has overpaid any of such costs, Landlord shall promptly refund to Tenant the amount of such overpayment. Landlord agrees to provide Tenant with copies of documentation and calculations relating the Common Area Costs assessed to Tenant, provided that Tenant pays a reasonable copying charge for the same. Such information shall be retained in confidence by Tenant.
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Payment of Common Area Costs. Landlord shall estimate in advance all Common Area costs payable by Tenant hereunder for each calendar year during the term of this Lease, and shall provide statements of such estimated costs to Tenant annually (provided, however, that Landlord may adjust such estimates at any time based upon ▇▇▇▇▇▇▇▇'s experience and reasonable anticipation of costs). Tenant shall pay Tenant's annual pro rata share of all Common Area costs (prorated for any fractional month) in monthly installments concurrently with payment of Base Rent. Within ninety (90) days after the end of each calendar year of the Lease term, Landlord shall deliver to Tenant a statement prepared in accordance with generally accepted accounting principles setting forth, in reasonable detail, the actual Common Area costs paid or incurred by Landlord during the preceding calendar year and ▇▇▇▇▇▇'s Portion thereof. Upon receipt of such statement, there shall be an adjustment between Landlord and Tenant, with payment to or credit given by Landlord (as the case may be) so that Landlord shall receive the entire amount of Tenant's Portion of such costs and expenses for such period.
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Payment of Common Area Costs. The Landlord shall submit invoices to each Service Operator for their proportionate share of Common Area operating costs throughout the year on a monthly basis or as is agreeable to the Parties. Payment of Common Area Operating Costs as invoiced shall be paid to the Town within 30 days following issuance of invoices to each Service Operator and, in default of payment, interest on each Service Operator's share of Common Area Operating Costs shall be due and payable at a rate of interest equal to the ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇, prime lending rate plus 3% per annum.
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Related to Payment of Common Area Costs

  • Operating Costs Tenant shall pay to Landlord the Tenant’s Percentage of Operating Costs (as hereinafter defined) incurred by Landlord in any calendar year. Tenant shall remit to Landlord, on the first day of each calendar month, estimated payments on account of Operating Costs, such monthly amounts to be sufficient to provide Landlord, by the end of the calendar year, a sum equal to the Operating Costs, as reasonably estimated by Landlord from time to time. The initial monthly estimated payments shall be in an amount equal to 1/12th of the Initial Estimate of Tenant’s Percentage of Operating Costs for the Calendar Year. If, at the expiration of the year in respect of which monthly installments of Operating Costs shall have been made as aforesaid, the total of such monthly remittances is greater than the actual Operating Costs for such year, Landlord shall promptly pay to Tenant, or credit against the next accruing payments to be made by Tenant pursuant to this subsection 4.2.3, the difference; if the total of such remittances is less than the Operating Costs for such year, Tenant shall pay the difference to Landlord within twenty (20) days from the date Landlord shall furnish to Tenant an itemized statement of the Operating Costs, prepared, allocated and computed in accordance with generally accepted accounting principles. Any reimbursement for Operating Costs due and payable by Tenant with respect to periods of less than twelve (12) months shall be equitably prorated.

  • Common Area Operating Expenses Lessee shall pay to Lessor during the term hereof, in addition to the Base Rent, Lessee's Share (as specified in Paragraph 1.6(b)) of all Common Area Operating Expenses, as hereinafter defined, during each calendar year of the term of this Lease, in accordance with the following provisions:

  • Common Area Maintenance Landlord will maintain or cause to be maintained the Common Areas and Tenant will reimburse Landlord for Tenant’s prorata share of the cost of such maintenance as hereinafter provided. (a) Common area maintenance costs and expenses shall be determined in accordance with generally accepted accounting principles consistently applied and allocated to any particular calendar year on the accrual method of accounting. Such costs and expenses shall include, but shall not be limited to upkeep, exterior painting, repairs, replacements and improvements in the Common Areas, snow removal, sweeping and cleanup, depreciation allowance on any machinery and equipment owned by Landlord and used in connection therewith, utility services including fire line water service charges, premiums for public liability, property damage and fire insurance including the Common Areas, any real estate tax and/or tax consultant expense incurred for the purpose of maintaining equitable tax assessments on the Development, all property taxes or assessments levied or assessed against all Common Areas, which, if not separately assessed, shall be determined, for land, by the ratio of land area designated for Common Area use to the total land area in the Development and, for improvements, on a fair and equitable allocation among the various improvements in the Development, giving weight to the factors which determine the amount of the real property tax or assessment in question. In addition, such costs shall include administrative costs equal to ten percent (10%) of the total cost paid or incurred by Landlord under this paragraph. (b) Tenant shall pay as additional rent to Landlord, Tenant’s prorata share of such Common Area expenses in the following manner: (1) From and after the date the minimum rental provided for herein has commenced, but subject to adjustment as hereinafter in this subparagraph (1) provided, Tenant shall pay Landlord in advance on the first day of each calendar month during the term of this Lease an estimated and adjustable amount covering Tenant’s proportionate share of common area services and expenses, which amount may be adjusted by Landlord by notice to Tenant at the end of any calendar month on the basis of Landlord’s experience and reasonably anticipated costs. (See Lease Rider “A” Building Expenses attached hereto and incorporated herein.) (2) Within thirty (30) days following the end of each calendar year, Landlord shall furnish Tenant a statement covering the calendar year just expired, showing the total operating costs, the amount of Tenant’s prorata share of such Common Area expenses for such calendar year and the payments made by Tenant with respect to such calendar year as set forth in subparagraph (b) I. If Tenant’s prorata share of such Common Area expenses exceeds Tenant’s payments so made, Tenant shall pay Landlord the deficiency within ten (10) days after receipt of such statement. If said payments exceed Tenant’s prorata share of such Common Area expenses, Tenant shall be entitled to offset the excess against payments next thereafter to become due Landlord as set forth in said subparagraph (b) I. Tenant’s pro-rata share of the total Common Area expenses for the previous calendar year shall be that portion of all such expenses which is equal to the proportion which the number of square feet of gross leasable area in the Demised Premises bears to the total number of square feet of gross leasable area of buildings in the entire Development which are from time to time completed and occupied as of the commencement of each calendar year.

  • Limit on Operating Expenses The Advisor hereby agrees to limit the Fund’s current Operating Expenses to an annual rate, expressed as a percentage of the Fund’s average daily net assets for the month, to the amounts listed in Appendix A (the “Annual Limit”). In the event that the current Operating Expenses of the Fund, as accrued each month, exceed its Annual Limit, the Advisor will pay to the Fund, on a monthly basis, the excess expense within the first ten days of the month following the month in which such Operating Expenses were incurred (each payment, a “Fund Reimbursement Payment”).

  • RIGHT OF ALLOTTEE TO USE COMMON AREAS AND FACILITIES SUBJECT TO PAYMENT OF TOTAL MAINTENANCE CHARGES The Allottee hereby agrees to purchase the [Apartment/Plot] on the specific understanding that is/her right to the use of Common Areas shall be subject to timely payment of total maintenance charges, as determined and thereafter billed by the maintenance agency appointed or the association of allottees (or the maintenance agency appointed by it) and performance by the Allottee of all his/her obligations in respect of the terms and conditions specified by the maintenance agency or the association of allottees from time to time.