Lab Space Premises Operating Costs shall mean, in each case solely to the extent not otherwise payable by Tenant under the definition of Common Expenses above, (x) all out-of-pocket, third party costs and expenses incurred by Landlord in providing services directly to the Lab Space Premises including, without limitation, those services listed in Exhibit 5, and (y) Tenants pro rata share of any out-of-pocket, third party costs incurred by Landlord for any other permits, licenses, services and other costs incurred by Landlord with respect to operation and maintenance of laboratory facilities in the Building including, without limitation, costs incurred in connection with the licenses and services detailed in Exhibit 3. For purposes of this Section 8, Tenants pro rata share shall mean the Rentable Floor Area of the Lab Space Premises divided by the Rentable Floor Area of laboratory facilities in the Building benefited by such permit, license or service, as determined by Landlord from time to time, expressed as a percentage. Landlord may bill Tenant for Tenants Share based on reasonably estimated projected costs (the Estimated Costs), in which case Tenant shall pay Tenants Share, as Additional Rent hereunder, based on such estimated amounts, such estimates to be based on the estimates by Landlord. At least annually, and not later than fifteen (15) days after Landlords annual accounting as more particularly described under Section 2.6.2 of the Lease, Landlord shall provide to Tenant copies of all records and documents relating to the annual accounting including, but not limited to, all materials and reconciliations supplied by Landlord. Tenant shall have the right to dispute any such charges in the manner set forth in Section 2.6.2 of the Lease. To the extent Tenants Share of the Estimated Costs exceeds Tenants Share of the actual costs and expenses, Landlord shall credit (or promptly refund, as appropriate) such excess amount against amounts due from Tenant hereunder. To the extent Tenants Share of actual costs and expenses exceeds Tenants Share of Estimated Costs, Tenant shall pay Landlord the amount of such deficiency upon demand as Additional Rent hereunder.
Examples of Lab Space Premises Operating Costs in a sentence
On account of the Lab Space Premises only, Tenant shall during the Term pay to Landlord, as Additional Rent hereunder, (a) the Tenants Percentage (as hereinafter defined) of Common Expenses (as hereinafter defined), and (b) one hundred percent (100%) of Lab Space Premises Operating Costs (as hereinafter defined).