Definition of Estimated Operating Expense Increase


Estimated Operating Expense Increase means the payments to be made by Tenant to Landlord toward the Operating Expense Increase in the amounts, at the times, and in the manner provided for by subparagraph 4.3 below.
Sample 1

Examples of Estimated Operating Expense Increase in a sentence

Landlord's statement of the Estimated Operating Expense Increase shall control for the year specified in such statement and for each succeeding year during the Term until Landlord provides a new statement of the Estimated Operating Expense Increase.
If Tenant's Pro Rata Share of Estimated Operating Expense Increase paid to Landlord during the previous calendar year is less than Tenant's Pro Rata Share of the Actual Operating Expense Increase, then Tenant shall pay to Landlord the amount of such underpayment.
In addition to the Base Rent, Tenant shall pay in advance on the first day of each calendar month during the Term, installments equal to12th of Tenant's Pro Rata Share of the Estimated Operating Expense Increase, if any.
If Tenant's Pro Rata Share of the Estimated Operating Expense Increase paid to Landlord during the previous calendar year exceeds Tenant's Pro Rata Share of the Actual Operating Expense Increase, then Landlord shall refund the difference to Tenant at the time Landlord furnishes the statement of the Actual Operating Expense Increase.
If at any time the Building is not fully occupied or Landlord is not supplying all services to all portions of the Building during an entire calendar year, then, Base Operating Expense, Operating Expenses, the Actual Operating Expense Increase and the Estimated Operating Expense Increase shall be adjusted as though the Building had been one hundred percent (100%) occupied and Landlord were supplying all services to all of the Building during the entire calendar year.