Common use of Tenant’s Operating Payment Clause in Contracts

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimate, and if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate.

Appears in 2 contracts

Samples: Agreement of Lease (Groupon, Inc.), Agreement of Lease (Groupon, Inc.)

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Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty ten (3010) days Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12) of the Expense Estimate. Landlord shall have the right, upon not less than thirty (30) days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Comparison Year.

Appears in 2 contracts

Samples: Lease (ChromaDex Corp.), Lease (Cereplast Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, . Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimate, and if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate.

Appears in 2 contracts

Samples: Agreement of Lease (Groupon, Inc.), Agreement of Lease (Groupon, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, then Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 2 contracts

Samples: Lease (Pegasystems Inc), Lease (Pegasystems Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 business days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 2 contracts

Samples: Agreement (Imanage Inc), Agreement (Imanage Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 20 Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Comparison Year.

Appears in 2 contracts

Samples: Lease (Marchex Inc), Lease (Marchex Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, -------------------------- Landlord Tenant’s 's Proportionate Share of such excess amount Operating Expenses paid or incurred by Landlord during each calendar year of the Term ("Tenant’s 's Operating Payment"). For each Comparison Yearcalendar year of the Term, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Yearcalendar year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year calendar year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Yearcalendar year. If, however, Landlord shall furnish any such estimate for a Comparison Year calendar year subsequent to the commencement thereof, then (a) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly calendar year, (b) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year calendar year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year calendar year in accordance with such estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty ten (3010) days Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunderhereunder or, to the extent any such credit is determined following the expiration or earlier termination of the Term for reasons other than following an Event of Default, the amount thereof shall be paid to Tenant, and (c) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Yearcalendar year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 2 contracts

Samples: Lease (Portal Software Inc), Lease (Portal Software Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of the Expense Estimate (“Tenant’s Monthly Operating Payment for such Comparison YearPayment”). If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 7.4 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate.(b) Landlord shall endeavor to furnish to Tenant a final Statement for the immediately preceding Comparison Year on or before July 1st of each Comparison Year. If the Statement shows that the sums paid by Tenant under this Section 7.4 exceeded the actual amount of Tenant’s Operating Payment shown on for such estimateComparison Year, Landlord shall credit the amount of such excess against subsequent payments of Rent due hereunder. If the Statement shows that the sums so paid by Tenant were less than Tenant’s Operating Payment for such Comparison Year, Tenant shall pay the amount of such deficiency within 10 Business Days after delivery of the Statement to Tenant.

Appears in 1 contract

Samples: Agreement (2U, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunderduring each Comparison Year, for any period from and after January 1, 2001, Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall does not furnish any such estimate for a Comparison Year subsequent to until after the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 20 days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall shall, at its election, pay to Tenant, or credit the amount thereof against subsequent payments of Rent due hereunder, the amount thereof and if any such credit remains outstanding as of the Expiration Date, Landlord will pay the amount thereof to Tenant within 30 days thereafter, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Advent Software Inc /De/)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount (“Tenant’s Operating Payment”"TENANT'S OPERATING PAYMENT"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "ESTIMATE"). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s 's Operating Payment shown on such estimatethe Estimate.

Appears in 1 contract

Samples: Lease (Engage Technologies Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating ExpensesExpenses (excluding any Base Operating Expenses that are non-recurring), Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount ("Tenant’s Operating Payment”'s OPERATING PAYMENT"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "EXPENSE ESTIMATE"). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the second month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such the preceding Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the second month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s 's Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Philadelphia Consolidated Holding Corp)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount Operating Expenses (“Tenant’s Operating Payment”). For each Comparison Yearcalendar year (or portion thereof) during the Term, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetcalendar year (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year the Term an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment the Expense Estimate for such Comparison Yearcalendar year. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year calendar year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly calendar year, (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year calendar year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year calendar year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Yearcalendar year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any calendar year.

Appears in 1 contract

Samples: Lease (Affirmative Insurance Holdings Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, TenantLandlord Xxxxxx’s Proportionate Share of such excess amount the Operating Expenses for each calendar year or portion thereof during the Term (“Tenant’s Operating Payment”)) from and after the Rent Commencement Date. For each Comparison Yearcalendar year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of TenantXxxxxx’s Operating Payment for such Comparison Year, based upon such year’s budgetcalendar year (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year calendar year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year calendar year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly calendar year, (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year calendar year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year calendar year in accordance with such estimatethe Expense Estimate and the amount of any difference, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Yearcalendar year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s the Expense Estimate. . Landlord will not be entitled to collect more than one hundred percent (100%) of the Operating Payment shown on such estimateExpenses actually incurred by Landlord in any calendar year; provided, however, to the extent permitted to be included in Operating Expenses pursuant to the provisions of this Lease, Landlord shall be permitted to include the Carryover Expenses (as hereinafter defined) and the amortized amount of the Permitted Capital Expenditures in the applicable calendar year(s).

Appears in 1 contract

Samples: Lease (CRISPR Therapeutics AG)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”); provided, however, that in no event shall Tenant be obligated to pay the portion of Tenant’s Operating Payment for the period attributable to January 1, 2011 through June 26, 2011. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth (1/12) of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty twenty (3020) days Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth (1/12) of the Expense Estimate. Landlord shall have the right, upon not less than thirty (30) days prior written notice to Tenant’s Operating Payment shown on , to reasonably adjust the Expense Estimate from time to time during any Comparison Year, provided that, in no event shall any such estimateadjustment be made more than one (1) time during any Comparison Year in addition to any adjustment made at the time the Statement was delivered to Tenant.

Appears in 1 contract

Samples: Lease (Mindspeed Technologies, Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunderhereunder (or refund to Tenant within thirty (30) days if the Term has expired), and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant’s Operating Payment shown on such estimate., to reasonably adjust the Expense Estimate from time to time during any Comparison Year. 6219070.4

Appears in 1 contract

Samples: Lease (Achieve Life Sciences, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunderduring each Comparison Year, Tenant’s 's Proportionate Share in respect of Operating Expenses of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall does not furnish any such estimate for a Comparison Year subsequent to until after the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Attornment Agreement (Greenhill & Co Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses Expense Factor payable for any Comparison Year exceed exceeds the Base Operating ExpensesExpense Factor, Tenant shall pay to Landlord, as Additional Rent hereunderduring each Comparison Year, Tenant’s Proportionate Share of such excess an amount ("TENANT'S OPERATING PAYMENT") equal to (i) Tenant’s Operating Payment”)'s Area applicable to each portion of the Premises from and after the Commencement Date in respect thereof, MULTIPLIED BY (ii) the amount by which the Expense Factor for such Comparison Year exceeds the Base Expense Factor. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord Landlord, on the first day of each month during such Comparison Year Year, an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall does not furnish any such estimate for a Comparison Year subsequent to until after the commencement thereof, then (A) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section SECTION 7.3 during the last month of the preceding Comparison Year. Promptly , (B) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (1) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, therefor or (2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments installments of Rent due hereunderhereunder or if such credit remains outstanding as of the Expiration Date or any earlier termination of this Lease, Landlord shall pay the amount thereof to Tenant within 30 days thereafter, and (C) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Lease (Franklin Resources Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "Estimate"). Tenant shall pay to Landlord on the first 1/st/ day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1/st/ day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1/st/ day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1/st/ day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1/st/ day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s 's Operating Payment shown on such estimatethe Estimate.

Appears in 1 contract

Samples: Lease (Cmgi Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses Expense Factor payable for any Comparison Year exceed exceeds the Base Operating ExpensesExpense Factor, Tenant shall pay to Landlord, as Additional Rent hereunderRent, Tenant’s Proportionate Share of such excess an amount (“Tenant’s Operating Payment”)) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Expense Factor for such Comparison Year exceeds the Base Expense Factor. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord Landlord, on the first day of each month during such Comparison Year Year, an amount equal to one-twelfth 1/12th of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (A) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (B) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (1) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, therefor or (2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments installments of Rent due hereunder, and (C) on the first 1st day of the month following the month in which such estimate Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Xstelos Holdings, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Operating Payment until the earlier of (a) the first (1st) yearly anniversary of the date Tenant (or any party claiming by, through or under Tenant) occupies any part of the Premises for the conduct of Tenant’s (or such other party’s) business, or (b) September 1, 2012. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of TenantXxxxxx’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments installments, of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty ten (3010) days Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Deed of Lease (Carlyle Group L.P.)

Tenant’s Operating Payment. (a) If Tenant shall pay to Landlord Tenant's Proportionate Share of the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, ("Tenant’s Proportionate Share of such excess amount (“Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "Estimate"). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s 's Operating Payment shown on such estimatethe Estimate.

Appears in 1 contract

Samples: Lease (PMC Sierra Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Operating Payment until the first (1st) anniversary of the Rent Commencement Date. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly Year (if any), (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty ten (3010) days Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Convio, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then until the first day of the month (i) within forty-five (45) days following the month in date upon which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty forty-five (3045) days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and on the first day or if no further payments of the month Rent are due hereunder, Landlord shall refund such amount directly to Tenant within forty-five (45) days following the month in date upon which Landlord becomes aware of such estimate overpayment, and (iii) within forty-five (45) days following the date upon which the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one1/12 of the Expense Estimate. Landlord shall have the right, upon not less than forty-twelfth of five (45) days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Comparison Year.

Appears in 1 contract

Samples: Agreement of Sublease (Sunrun Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses Expense Factor payable for any Comparison Year exceed exceeds the Base Operating ExpensesExpense Factor, Tenant shall pay to Landlord, as Additional Rent hereunderRent, Tenant’s Proportionate Share of such excess an amount (“Tenant’s Operating Payment”)) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Expense Factor for such Comparison Year exceeds the Base Expense Factor. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord Landlord, on the first day of each month during such Comparison Year Year, an amount equal to one-twelfth 1/12th of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (A) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (B) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (1) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 15 Business Days after demand therefor, therefor or (2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments installments of Rent due hereunder, and (C) on the first 1st day of the month following the month in which such estimate Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of the Expense Estimate. (b) On or before May 1 of each Comparison Year, Landlord shall furnish to Tenant a Statement of Operating Expenses for the immediately preceding Comparison Year. If the Statement shows that the sums paid by Tenant under Section 7.3(a) exceeded the actual amount of Tenant’s Operating Payment shown on for such estimate.Comparison Year, Landlord shall credit the amount of such excess against subsequent installments of Rent due hereunder. If the Statement for such Comparison Year shows that the sums paid by Tenant were less than Tenant’s Operating Payment for such Comparison Year, Tenant shall pay the amount of such deficiency within 15 Business Days after delivery of the Statement to Tenant. Section 7.4

Appears in 1 contract

Samples: Lease Agreement

Tenant’s Operating Payment. (a) If Tenant shall pay to Landlord Tenant's Proportionate Share of the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, ("Tenant’s Proportionate Share of such excess amount (“Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "Estimate"). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s 's Operating Payment shown on the Estimate. On or before May 1st of each Comparison Year, Landlord shall furnish to Tenant a Statement for the immediately preceding Comparison Year. If the Statement shows that the sums paid by Tenant under Section 7.3(a) exceeded the actual amount of Tenant's Operating Payment for such estimateComparison Year, Landlord shall credit the amount of such excess against subsequent payments of Rent due hereunder. If the Statement shows that the sums so paid by Tenant were less than Tenant's Operating Payment for such Comparison Year, Tenant shall pay the amount of such deficiency within 10 Business Days after delivery of the Statement to Tenant.

Appears in 1 contract

Samples: Lease (PMC Sierra Inc)

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Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetbudget (the “Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Estimate. Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Operating Payment for the first 12 months after the Commencement Date.

Appears in 1 contract

Samples: Sublease Agreement (K12 Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 10 business days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Kasper a S L LTD

Tenant’s Operating Payment. (a) If the Operating Expenses Expense Factor payable for any Comparison Year exceed exceeds the Base Operating ExpensesExpense Factor, Tenant shall pay to Landlord, as Additional Rent hereunderRent, Tenant’s Proportionate Share of such excess an amount (“Tenant’s Operating Payment”)) equal to (i) Tenant’s Area, multiplied by (ii) the amount by which the Expense Factor for such Comparison Year exceeds the Base Expense Factor. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord Landlord, on the first day of each month during such Comparison Year Year, an amount equal to one-twelfth 1/12th of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (A) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (B) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (1) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 15 Business Days after demand therefor, therefor or (2) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments installments of Rent due hereunder, and (C) on the first 1st day of the month following the month in which such estimate Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12th of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Omrix Biopharmaceuticals, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Comparison Year.

Appears in 1 contract

Samples: Lease (E2open Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). Notwithstanding the foregoing, Tenant shall have no obligation to pay Tenant’s Operating Payment until the Rent Commencement Date (i.e., Tenant shall not be responsible for any Tenant’s Tax Payment for any period preceding the Rent Commencement Date). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, or, if received after the expiration or sooner termination of the Term, promptly pay such amount to Tenant, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Deed of Lease (FBR & Co.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Expense Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 30 days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Durata Therapeutics, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunderduring each Comparison Year, Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Year. If, however, If Landlord shall does not furnish any such estimate for a Comparison Year subsequent to until after the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder (and if such overpayment or underpayment was more than 10% of the actual amount required to be paid hereunder, then such adjustment shall include interest at the Base Rate on such underpayment or overpayment, as applicable, from the date originally paid by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such overpayment against rent, as applicable), and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Lease (Greenhill & Co Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating ExpensesExpenses applicable to any portion of the Premises, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share in respect of such portion of the Premises of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, Landlord shall furnish any such estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) 15 business days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Martha Stewart Living Omnimedia Inc

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any For each Comparison Year exceed the Base Operating ExpensesYear, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord an amount equal to Tenant’s Proportionate Share of the total dollar increase, if any, in Operating Expenses paid or incurred by Landlord in such excess amount year over the Operating Expenses paid or incurred by Landlord in the Base Year (together, “Tenant’s Operating Expense Payment”) (in the event Operating Expenses decrease from the Base Year, Tenant shall be reimbursed or credited as set forth below); provided, however, that in no event may Tenant’s Expense Payment increase by more than five percent (5%) (non-cumulatively) in any Comparison Year, excluding Uncontrollable Operating Expenses (defined herein). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Expense Payment for such Comparison Year (the “Expense Estimate”), and may furnish to Tenant one or more revised Expense Estimates during the course of any Comparison Year, based upon such year’s budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, or if Landlord furnishes Tenant with a revised Expense Estimate, then (i) until the first day of the month following the month in which such estimate the Expense Estimate or revised Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly Year or under the previous Expense Estimate, as applicable, (ii) promptly after such estimate the Expense Estimate or revised Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Expense Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimate, the Expense Estimate and (A) if there shall be is a deficiency, Tenant shall pay the amount thereof within thirty (30) 10 days after demand therefordelivery of such notice, or (B) if there shall have has been an overpayment, Landlord shall credit (or at Landlord’s option refund to Tenant) the amount thereof against subsequent payments of Rent due hereunderRent, provided that no Event of Default has occurred and is continuing, and (iii) on the first day of the month following the month in which such estimate the Expense Estimate or revised Expense Estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimate.the Expense Estimate or revised Expense Estimate, as applicable. “

Appears in 1 contract

Samples: Office Lease Agreement (Duolingo, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith 's reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s budgetYear (the "Expense Estimate"). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty ten (3010) days Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than thirty (30) days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Comparison Year.

Appears in 1 contract

Samples: Lease (Catasys, Inc.)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetbudget (the “Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Year. If, however, If Landlord shall furnish any such estimate furnishes an Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 30 Business Days after written demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Estimate.

Appears in 1 contract

Samples: Sublease (K12 Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, then Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first (1st) day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (i) until the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first (1st) day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate and the amount of any difference, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first (1st) day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first (1st) day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Centessa Pharmaceuticals PLC)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount Operating Expenses payable for each Calendar Year (“Tenant’s Operating Payment”). For each Comparison Calendar Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgetCalendar Year (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Calendar Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Calendar Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Calendar Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Calendar Year were greater or less than the installments of Tenant’s Operating Expense Payment to be made for such Comparison Calendar Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent the next payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Calendar Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (BTHC VII Inc)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating Expenses, Tenant shall pay to Landlord, as Additional Rent hereunderduring each Comparison Year, Tenant’s 's Proportionate Share of such excess amount ("Tenant’s 's Operating Payment"). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s 's good faith reasonable estimate of Tenant’s 's Operating Payment for such Comparison Year, based upon such year’s 's budget. Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth of Landlord’s 's estimate of Tenant’s 's Operating Payment for such Comparison Year. If, however, If Landlord shall does not furnish any such estimate for a Comparison Year subsequent to until after the commencement thereof, then (i) until the first day of the month following the month in which such estimate is furnished to Tenant, Tenant shall pay to Landlord on the first day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 8.3 during the last month of the preceding Comparison Year. Promptly , (ii) promptly after such estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s 's Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s 's Operating Payment to be made for such Comparison Year in accordance with such estimate, and (A) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (B) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder (and if such overpayment or underpayment was more than 10% of the actual amount required to be paid hereunder, then such adjustment shall include interest at the Base Rate on such underpayment or overpayment, as applicable, from the date originally paid by Tenant until Tenant pays such deficiency to Landlord or Landlord credits such overpayment against rent, as applicable), and (iii) on the first day of the month following the month in which such estimate is furnished to Tenant, and on the first day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth of Tenant’s 's Operating Payment shown on such estimate.

Appears in 1 contract

Samples: Disturbance and Attornment Agreement (Greenhill & Co Inc)

Tenant’s Operating Payment. (a) If During the Operating Expenses payable for any Comparison Year exceed the Base Operating ExpensesTerm, Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount any increase in the Operating Expenses incurred by Landlord in each calendar year subsequent to the Base Year, over the Operating Expenses incurred by Landlord during the Base Year (“Tenant’s Operating Payment”), as hereinafter provided. For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of Tenant’s Operating Payment for such Comparison Year, based upon such year’s budgeteach Lease Year (the “Expense Estimate”). Tenant shall pay to Landlord on the first 1st day of each month during such Comparison Lease Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Lease Year subsequent to the commencement thereof, then (i) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Lease Year. Promptly , (ii) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Lease Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Lease Year in accordance with such estimatethe Expense Estimate, and (x) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (y) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (iii) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Lease Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of the Expense Estimate. Landlord shall have the right, upon not less than 30 days prior written notice to Tenant’s Operating Payment shown on such estimate, to reasonably adjust the Expense Estimate from time to time during any Lease Year.

Appears in 1 contract

Samples: Lease (Inphi Corp)

Tenant’s Operating Payment. (a) If the Operating Expenses payable for any Comparison Year exceed the Base Operating ExpensesExpenses (excluding any Base Operating Expenses that are non-recurring), Tenant shall pay to Landlord, as Additional Rent hereunder, Landlord Tenant’s Proportionate Share of such excess amount (“Tenant’s Operating Payment”). For each Comparison Year, Landlord shall furnish to Tenant a written statement setting forth Landlord’s good faith reasonable estimate of TenantTxxxxx’s Operating Payment for such Comparison Year, based upon such year’s budgetYear (the “Expense Estimate”). Tenant shall pay to Landlord on the first day of each month during such Comparison Year an amount equal to one-twelfth 1/12 of Landlord’s estimate of Tenant’s Operating Payment for such Comparison Yearthe Expense Estimate. If, however, If Landlord shall furnish any such estimate furnishes an Expense Estimate for a Comparison Year subsequent to the commencement thereof, then (a) until the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, Tenant shall pay to Landlord on the first 1st day of each month an amount equal to the monthly sum payable by Tenant to Landlord under this Section 7.3 during the last month of the preceding Comparison Year. Promptly , (b) promptly after such estimate the Expense Estimate is furnished to Tenant or together therewith, Landlord shall give notice to Tenant stating whether the installments of Tenant’s Operating Payment previously made for such Comparison Year were greater or less than the installments of Tenant’s Operating Payment to be made for such Comparison Year in accordance with such estimatethe Expense Estimate, and (i) if there shall be a deficiency, Tenant shall pay the amount thereof within thirty (30) days 10 Business Days after demand therefor, or (ii) if there shall have been an overpayment, Landlord shall credit the amount thereof against subsequent payments of Rent due hereunder, and (c) on the first 1st day of the month following the month in which such estimate the Expense Estimate is furnished to Tenant, and on the first 1st day of each month thereafter throughout the remainder of such Comparison Year, Tenant shall pay to Landlord an amount equal to one-twelfth 1/12 of Tenant’s Operating Payment shown on such estimatethe Expense Estimate.

Appears in 1 contract

Samples: Lease (Larimar Therapeutics, Inc.)

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